Sterling remains resilient but bears dominate below daily cloud

Cable trades within the range for the fifth straight day and resilient despite strong selling in past five days, but the near-term action remains biased lower on risk aversion over the war in Ukraine and growing concerns about the depth of the impact of sanctions against Russia.
The pair continues to trade below the daily cloud which weighs on price action, and strong negative momentum on daily chart adds to the downside risk.
However, bears need a clear break of cracked pivotal support at 1.3300 (Fibo 76.4% of 1.3161/1.3748) after multiple failures, to signal continuation of the bear-leg from 1.3642 (Feb 18 high).
The ceiling of near-term range (1.3438) and daily cloud base (1.3454) mark solid resistances which should keep the upside limited and maintain bearish stance.

Res: 1.3438; 1.3455; 1.3489; 1.3503
Sup: 1.3362; 1.3300; 1.3271; 1.3240