Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Pound retreated against its Japanese counterpart, nullifying the expected positive outlook, approaching the stop loss order published in the previous analysis, at 137.00, posting a low of 137.18.
Technically speaking, we tend to be negative in our trading, relying on intraday trading below 137.65, in addition to losing the RSI indicator’s bullish momentum over short time frames.
Therefore, we are waiting to confirm a break of 137.00, targeting 136.60 a first goal and may extend later towards 136.00. Returning to trading stability again above 137.65 negates the suggested scenario, and the pair regains the bullish path with initial targets starting at 138.00 and then 168.65.
Warning: The level of risk may be high today.
| S1: 137.00 | R1: 138.00 |
| S2: 136.55 | R2: 138.65 |
| S3: 135.90 | R3: 139.05 |
