Pound correction, short term selling opportunity

The pound has dropped almost 4% from the peak of 1.35119 to the current price of 1.29818.

Before one gets too depressed over the plunge and decides to throw in the kitchen sink to short down this pair, please note that there are 3 levels of support that it has to break down. These support can turn the price upwards once more.

The selling candles seem to be have eased a little after 5 consecutive of sell down. I will be monitoring the price action before initiating a buy position.

Trade safely.