Sterling drops below the converged 100-200 day moving averages

A bullish cross over between the averages having little impact so far

A close below the daily cloud, 1.2049, would keep the pressure on

Initial support 1.1915, Feb. 17 low

Bearish indecision on the weeklies gives way to fresh losses

Falling and thickening weekly cloud, 1.2101, also significant

Having been stopped out of our 1.2055 long play we stand aside for now

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