Is the British pound looking for support?!


The British pound approached the support zone formed between the 1.2428 and 1.2476 levels, therefore it could potentially pull back from this zone:

On the weekly chart, the price of Australian currency pulled back from the downtrend:

The daily chart shows that asset’s price closed below the 0.7003 resistance level of, forming the bullish trap. The asset can pull back to the 0.7000 level and then only drop:

The Canadian dollar is targeting the 1.3069 support level, away from which the asset’ price is trying to pull. We could assume that the asset might also break this level:

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