The pound climbs as solid payrolls support the Bank of England’s first post-pandemic interest rate hike.
A series of higher highs have prompted sellers to cover their bets. The pair is now testing the supply zone around 1.3650, this was previously major support on the daily chart.
Sentiment remains bearish judging by falling moving averages. Strong selling interest could be below 1.3750 as sellers wait to fade the rebound. 1.3550 is the immediate support and its breach would send the sterling back to 1.3420.
