Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive momentum has returned to support the GBP/USD pair, benefiting from the recent decline in the US dollar.
Technical Outlook – 4-Hour Timeframe:
The simple moving averages are once again providing upward support, reinforcing the bullish bias. The Relative Strength Index (RSI) is also showing positive signals, indicating renewed strength in upward momentum.
As long as daily trading holds above the 1.3200 support level, the bullish outlook is favored, with upside targets at 1.3260 followed by 1.3290.
Conversely, a confirmed break below the 1.3190 support level could trigger downside pressure, opening the door for a retest of 1.3160.
Note: Highly significant U.S. economic data is expected today, including the Non-Farm Private Sector Employment Change and the ISM Purchasing Managers’ Index (PMI). Elevated volatility is likely around the time of the releases.
Warning: Risk levels remain high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.3200 | R1: 1.3260 |
| S2: 1.3160 | R2: 1.3300 |
| S3: 1.3120 | R3: 1.3330 |
