GBP/USD falls from a high of 1.3723 earlier to 1.3668 currently
The dollar regaining some poise during the session is pushing cable to fresh lows on the session and notably, testing key near-term levels once again.
The drop after failing to hold yet another break above 1.3700 - at least for a comfortable enough period - sees cable fall back to test its 100-hour moving average (red line) @ 1.3678. Keep below and the near-term bias stays more neutral now.
For buyers, they will have to try and push back above that in order to take another run at a firm breach above 1.3700 and last week's highs around 1.3738-46 preferably.
As for downside levels to watch, the 200-hour moving average (blue line) @ 1.3649 will be a key one to be mindful of as that helped to limit the drop on Friday.
A push below that will see sellers regain near-term control and potentially look to post a daily close below trendline support from the 21 December to 11 January low @ 1.3628.
For the pound, EUR/GBP price action will also be one to keep an eye out for from a technical perspective after the possibly false break below key trendline support last week.
