The pound slips due to concerns over possible delays to June 21 lockdown lifting. The pair saw strong selling interest at the supply zone (1.4200) from last February. The RSI’s failure to achieve a higher high as opposed to the price action indicates exhaustion.
Divergence near a key resistance could be a forward warning for a correction. The drop below 1.4160 is a confirmation of weak demand. A break below 1.4100 may send the pound to the psychological level of 1.4000.
On the upside, the peak at 1.4250 has become resistance.
