The US dollar grabs its leadership position at the yesterday's session. The US dollar regained against the euro what it lost after the FOMC meeting. At the yesterday's session, we advised the bearish view again. Eventually, the pound looks weak against USD ahead of political drama. The UK is slowly approaching its general election scheduled for May. Market participants expect the pound to get under a downward pressure. The cable gave an upside breakout from the bearish channel, but bulls hope for short lived. The cable settles in the same bearish channel. The cable has been closing around 1.4745 and 1.4750. A daily close is below 1.4745 and we can expect 1.4350 in the medium term. The pound is trading higher against the US dollar and yen at the Asian session today. At the yesterday's session, we recommended safe and risky traders as well to sell with targets at 1.4850, 1.4750, and 1.4700. The cable made a low at 1.4689. Intraday support is seen at 1.4735 and 1.4700. We recommend selling below 1.4730 with targets at 1.4700, 1.4640, and 1.4500.
Trade: Buying above 1.4835
Selling below 1.4730
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