FXstreet.com (Barcelona) - The Sterling has traded sideways today, according to the ActionForex.com Technical team deciding which way to go: Cable had another test of the mentioned medium term rising channel support (now at 2.0115) today but is still struggling to either take it out decisively or bounce back from this level. Cable is still at a juncture. Nevertheless, intraday bias remains on the downside as long as 2.0244 minor resistance holds. The ActionForex.com Technical Team foresees the Pound losing positions in the next sessions: Further decline is still in favor. Meanwhile, above 2.0244 will indicate an intraday low is in place. Also, short term outlook will be turned neutral in that case and bring rebound. But still. a break of 2.0577 resistance is needed to confirm that fall from 2.1161 has completed. Otherwise, further decline cannot be ruled out.
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