Larger bears resume after a five-day pause, accelerated by upbeat US jobs data

Negative sentiment from the morning’s drop in stock markets was further soured by much better than expected US NFP data that pushed the cable to the lowest in 2 ½ months in the US trading on Friday.
Sterling was dragged by weaker Euro on fresh wave of risk aversion and eventually broke below the floor of five-day congestion, signaling continuation of the downtrend from 1.3642 (Feb 18 high).
Final break of pivotal 1.3300 support (Fibo 76.4% of 1.3161/1.3748) which resisted several attacks in past few days, generated strong bearish signal.
The pair is on track for the second strong weekly fall that weighs o near-term outlook, along with firmly bearish daily studies.
Bears eye key supports at 1.3164/61 (Fibo 38.2% of 1.1409/1.4249 rally / Dec 8 low) and 1.3122 (200WMA), violation of which would signal stronger acceleration lower on completion of failure swing pattern on weekly chart and expose psychological 1.30 support.
Broken 1.33 support reverted to strong resistance which is expected to keep the upside protected and maintain bearish structure.

Res: 1.3271; 1.3300; 1.3354; 1.3385
Sup: 1.3197; 1.3161; 1.3122; 1.3100