The Pound found support as expected at the 1.3615 level, as the bulls remain cautious amid the US dollar’s rebound after Joe Biden’s $2 trillion stimulus package. The focus shifts towards the Fed Powell’s speech and if he will mention anything related to tapering or not, as the Sterling will remain at the mercy of the dollar trades and sentiment around the Treasury yields. If 1.3615 support holds, then we could easily revisit 1.37 today.
Support: 1.3615 / 1.3530
Resistance: 1.37 / 1.3750
