The US dollar rallies as hiring remains strong despite moderate wage growth. As the pair approaches March 2020’s lows around 1.1450, the RSI’ oversold situation prompts sellers to take some chips off the table. Along with ‘buying-the-dips’ in this demand zone, the pound may find some support. 1.1650 is the closest resistance where trend followers could be expected to sell into strength. A fall below March 2020’s lows at 1.1450 would force the last buyers out and open the door for further extension to the south.
