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Positive trades dominated the movements of the pound against the US dollar, approaching a few points difference from our published target during the previous analysis, located at 1.3390, to record its highest level at 1.3380.
Technically, the pair found it difficult to continue rising as a result of approaching the psychological barrier of 1.3400, to return again and test the 1.3300 support level, by looking at the 240-minute chart, we find that the simple moving averages are still holding the price from the bottom and support the upward curve of prices, accompanied by attempts Stochastic to get rid of the current negativity.
From here, and with continued stability above 1.3300 / 1.3290, the bullish scenario remains valid, targeting 1.3400, bearing in mind that confirming the breach of the aforementioned level is a catalyst that enhances the chances of a rally towards 1.3490, a next official station.
A reminder that any trading below the support floor of 1.3290 is capable of completely cancel the suggested scenario and puts the price under negative pressure, its initial target 1.3210.
| S1: 1.3310 | R1: 1.3400 |
| S2: 1.3255 | R2: 1.3435 |
| S3: 1.3210 | R3: 1.3490 |
