Impressive, the movement we saw on this pair last Friday. When it seemed the sterling was rebounding, 1.6117 did its job and sent the price back to 1.58 dollars per pound. During the night in Europe, the price tried to exit the short trend, but no success, losing the supports at 1.581 and 1.577. Finally, it stopped at 1.5725. The RSI is marking oversold, so the price should correct before seeking a new low at the fibo 38.2 at 1.5696 (marked from 1.35 to 1.706).

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