Pound Continues to Touch Negative Goals

The British pound retreated significantly, as we expected, touching the last target mentioned in the previous analysis, located at 1.3820, recording a low of 1.3823.

On the technical side today, we find the stochastic indicator is clearly trading around oversold areas, in contrast to the continuation of negative pressure coming from the 50-day moving average, which still an obstacle.

We tend to be negative, but during the next few hours, with trading remaining above 1.3800, we may witness a slight bullish bias aiming to re-test 1.3890 before retreating again.

Note: the bullish slight inclination does not contradict the daily negativity that starts its downside targets around 1.3745 once 1.3800 is broken.

S1: 1.3800	R1: 1.3920
S2: 1.3745	R2: 1.4000
S3: 1.3665	R3: 1.4045