The sterling bounced higher after data showed that Covid cases in the UK fell for five consecutive days. The pound has bounced off the origin of the February rally (1.3570) and the bulls would like to see how far they can push.
Price action may meet stiff selling pressure in the supply zone between 1.3800 and 1.3860. A drop below 1.3740 would keep a lid on the pound. Then 1.3600 could soon be revisited.
On the upside, sellers would start to cover if offers in the mentioned zone get lifted, paving the way for a potential reversal.
