Yesterday the given pair moved quite similarly to the Euro and gold. The first half of the day it spent in a surge but, after reaching certain point, changed a direction and started to decline until the 55-hour SMA. Today, the Pound faces the same dilemma as the bullion. On the one hand, it might try once again to break through a combination of the weekly R1 and the monthly S1. However, an easier path would be to continue the downfall towards the 100-hour SMA. It seems that yesterday the pair made a rebound from an upper trend-line of a new medium-term ascending channel. If this is true, then the further plunge seems even rational. But there is also a need to take into account an effect from another release of the US data today.
