FxWirePro: Daily Commodity Tracker - 21st March, 2022 
GBP/USD bears seem to have more steam left.
- Yesterday, two-day effort to form a bottom in GBP/USD failed in the absence of positive catalyst from ongoing Brexit negotiations and as dovish European Central Bank (ECB) propelled USD higher.
- We had expected for the pound to rise as two consecutive bullish candles were formed back to back; hammer and a Dragon-fly Doji.
- Since the support failed miserably, it is likely that the pound would decline further. It is gradually moving lower, ahead of U.S. non-farm payroll; data to be released at 13:30 GMT.
GBP/USD is currently testing 1.305 area.
- It is looking increasingly likely that the pound would test the rising trend line, shown in the chart. The trend line is drawn on based on closing price.
