The pair has been under pressure after BoE rate decision and we did see the market reaching the daily moving average to draw about 38% of the previous rally started in July 12.
The daily uptrend is not in question yet considering the bullish momentum on the weekly chart. We might see a new test of 1,65 going forward. However, and considering the relative US Dollar strengh, a break below 1,62 would expose a further setback towards 1,6085 (daily 200 moving average) with a possible bearish reversal which might lead the pair towards 1,59 (weekly bollinger band).
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