Ongoing Brexit negotiations and reports that PM May could resign soon have pushed the British pound lower against the US dollar. Calm conditions and key support may mean a sea change is on the charts. Note the lower Average True Range reading at the bottom of the chart. The sell down is orderly, another potential indication that the longest traded currency pair will respect support around the $1.2600 level. A break through could see a test of the spike lows from December / January.
Sterling slides to support
12:05, 24 May 2019 · By Michael McCarthy