Pound Drops To 2-day Low Against Dollar

Pound Drops To 2-day Low Against Dollar


The pound depreciated by 0.35 percent to a 2-day low of 1.6214 against the dollar around 5:50 am ET from Asian session's 4-day high of 1.6273. The cable reversed direction after having touched near the key supply zone at 1.6265/1.6305.
An inside bar set up formed yesterday in the daily chart signals further bearish trend for the pair in the near-term with 1.6150 seen as the next likely support level.