Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound succeeded against the US dollar in achieving the first target of the previous report, located at 1.3680, recording a low of 1.3674.
On the technical side today, there are signs of the beginning of forming a bearish technical structure that supports the continuation of the pair’s decline, in addition to the continuation of negative pressure coming from the 50-day moving average.
Consequently, we will maintain our negative outlook targeting 1.3660 the first target, and then 1.3630 respectively, bearing in mind that trading below the last increases and accelerates the strength of the bearish trend, so that the way is open directly towards 1.3575.
Only from the top is the return of trading stability again above 1.3750 capable of foiling the bearish scenario, and the pair may witness an upward intraday path aimed at re-testing 1.3800.
| S1: 1.3660 | R1: 1.3745 |
| S2: 1.3625 | R2: 1.3795 |
| S3: 1.3575 | R3: 1.3835 |
