Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound succeeded in achieving the first required target during the previous session, located at 1.3660, recording a high of 1.3658.
On the technical side today, the stability of intraday trading above the psychological barrier support level of 1.3600 supports the incline, as we find the 50-day moving average that has returned to hold the price from below, meeting around 1.3600 and adding more strength to it.
We will maintain our positive expectations, provided that the breach of 1.3680 is confirmed, and this will facilitate the task required to achieve gains that start at 13710 and extend to 1.3760.
From the bottom, trading again below 1.3600 will cancel the bullish trend, and we will witness a re-test of 1.3545 and 1.3510 respectively.
Note: The speech of US President-elect “Joe Biden” is due today and that may have a significant impact on the market movement.
| S1: 1.3600 | R1: 1.3680 |
| S2: 1.3545 | R2: 1.3710 |
| S3: 1.3510 | R3: 1.3760 |
