Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound continued its upward momentum against the US dollar, successfully holding above the psychological resistance at 1.2500, reaching 1.2550.
Technical Outlook:
- The pair remains above the 50-day SMA, reinforcing the bullish bias.
- The 14-day momentum indicator signals further upside potential.
Key Levels to Watch:
- Bullish Scenario:
- Stability above 1.2540 may open the way for a test of 1.2590.
- Bearish Scenario:
- A drop below 1.2410 could shift momentum, targeting 1.2360.
Market Risks & Considerations:
- The Bank of England’s policy decision today could trigger high volatility.
- Interest rate outlook and Governor Bailey’s speech will be key drivers of movement.
⚠ Risk Warning: Be prepared for potential sharp price swings due to economic announcements.
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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