Pound Continues to Crawl Negative

The British pound continues its negative creep against the dollar within the expected bearish path, depending on the stability of trading below 1.2960, to gradually approach the target required to be achieved in the previous analysis at 1.2840, recording a low at 1.2860.

Technically, the moving average is still pressing the price, meeting around 1.2960 and adding more strength in conjunction with the negativity from the stochastic indicator.

The bearish bias is likely today towards the target of 1.2870, followed by 1.2820 / 1.2840, bearing in mind that trading below 1.2820 may extend losses towards 1.2770.

Activating the bearish scenario depends on trading remaining below 1.2970, the most important 1.300, and stability above 1.3000 delays the chances of a reversal and pushes the pair towards an initial target of 1.3075.

Caution: the RSI tries to provide positive signals over short intervals.

S1: 1.2870	R1: 1.2970
S2: 1.2820	R2: 1.3020
S3: 1.2770	R3: 1.3075