Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound achieved noticeable gains against the US dollar within the positive outlook, as we expected during the previous analysis, touching the official station 1.2630, recording its highest level at 1.2624.
On the technical side, and with a closer look at the chart 60-min chart, the current moves are witnessing a bearish tendency, after the pair failed to stabilize for a long time above the 1.3600 level, we find the RSI indicator began to lose the bullish momentum gradually.
From here, and with trading remaining below 1.3600, we may witness a bearish bias over the next few hours, targeting a re-test of 1.3470 and may extend to 1.3420 before attempting to rise again.
Warning: the expected bearish bias over short periods of time does not contradict the upside, noting that the return of stability once again above 1.3600 leads the pair to resume the rise towards 1.3675.
| S1: 1.3740 | R1: 1.3600 |
| S2: 1.3420 | R2: 1.3675 |
| S3: 1.3345 | R3: 1.3730 |
