British Pound Stable Above Support

The British Pound traded on the positive side against the US dollar after attempts to establish a support near 1.2900.

Technically, we find that the pair succeeded in building a base on 1.289 / 1.2900, accompanied by the positive signs of the MA 50, which adds more strength. We see that the RSI indicator is still trying to gain momentum on the short time intervals.

This increases the probability of seeing a bullish bias in the coming hours, knowing that a rise above 1.2970 strengthens the chances of a bullish move towards 1.3020 / 1.300 then 1.3065.

On the downside, and with trading back below 1.2890, the aforementioned scenario is negated, and the bearish trend will return to control the pair with an initial target of 1.2810. Warning level of risk may be high

S1: 1.2900	R1: 1.2985
S2: 1.2860	R2: 1.3020
S3: 1.2810	R3: 1.3065