Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive attempts by the pound sterling against the US dollar to start attacking the psychological barrier of 1.3800, recording a high of 1.3808.
On the technical side today, and by looking at the 4-hour chart, we find the pair’s current trading is stable below 1.3790, and the stochastic oscillator began to gradually lose the bullish defeat.
Consequently, the bearish scenario will remain valid and effective targeting a re-test of 1.3710 / 1.3700. Attention should also be paid in case the aforementioned level is broken, we will be waiting for 1.3645 for a next station.
Trading and stabilizing the price above 1.3800 leads the pound on an upward path, with the initial target of 1.3825, and then 1.3875.
| S1: 1.3710 | R1: 1.3825 |
| S2: 1.3645 | R2: 1.3875 |
| S3: 1.3595 | R3: 1.3940 |
