Cable remains under pressure; focus at next target at 1.5168

EURUSD The Euro left two long red daily candles, turning the sentiment into firm bearish mode. Initial weakness off 1.1318, 02 Sep upside rejection, accelerated yesterday on expected dovish ECB’s stance, falling through daily Ichimoku cloud top, on extension to 1.1086, yesterday’s low. Near-term price action consolidates around daily cloud top at 1.1120, where yesterday’s close occurred. Overall bearish structure sees scope for further downside, with limited upside attempts, seen as selling opportunities. Initial barrier lies at 1.1143, Fibonacci 23.6% of 1.1331/1.1086 downleg, ahead of 1.1180, Fibonacci 38.2%. Extended rallies should stay capped under 1.1208, 50% retracement / daily 20SMA. Fresh weakness and close inside daily cloud, to confirm bearish resumption and expose targets at 1.1015,
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