Technical Analysis: Pound Sterling tests 1.2600 after steep fall
Pound Sterling prints a fresh two-week low near 1.2600 on downbeat market mood. The near-term demand for the GBP/USD pair weakens as it has dropped below the 100-day Exponential Moving Average (EMA), which trades around 1.2635. The asset is expected to find a cushion near the horizontal support plotted from December 13 low at 1.2500.
The 14-period Relative Strength Index (RSI) falls to 40.00. A bearish momentum would trigger if the RSI drops further.
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