Cable Stable Below Support

The British Pound succeeded in touching the second target to be achieved during the previous report, located around 1.3775 levels, recording the lowest price at 1.3780.

On the technical side today, we tend to be negative in our trading, relying on trading stability below 1.3860 level accompanied by negative pressure coming from the 50-day moving average, which coincides with the clear negative signs on Stochastic.

Therefore, we target 1.3775, a first target, bearing in mind that the breach of the aforementioned level will extend the losses of the pair so that the way is open directly towards 1.3710.

The price stability again above 1.3895 resistance will immediately stop the bearish tendency and lead the pair to an upward intraday path aimed at re-testing 1.3965.

S1: 1.3770	R1: 1.3895
S2: 1.3710	R2: 1.3965
S3: 1.3645	R3: 1.4020