Bearish potential

24.03.2021

Daily chart: bears are ready to break the lower Bollinger envelope. The downside potential of quotes is at least 140 points in the direction of the mid-term support zone of 1.3545. ADX is gaining momentum, which also speaks in favor of sales.

Н4: strong bearish dynamics is observed here as well. But it should also be noted that the RSI is substantially oversold, which may lead to the development of an intermediate correction.

Н1: the breakdown of the hourly lower Bollinger envelope occurs against the background of strong trend pressure from the ADX. Therefore, the further scenario of the fall of the British pound seems to have no alternative.

Conclusions: decline to 1.3600, with an eye on 1.3545.
Trading decisions: sells to 1.3600 and 1.3545.