pound had its first weekly decline against the Euro in a month, and dropped for a third week versus the dollar, on speculation signs the economy is faltering will prompt the Bank of England to resume cutting interest rates.
Tech View:
pound is expected to be on a bearish note for the day with the trading range is expected between 1.9350-1.9570 levels for the day. currency has its support at 1.9340 levels and holds resistance at 1.9590 levels .Momentum and RSI takes the currency on downside and currency is also seen trading below the fast moving average confirming the trend.
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