Pound Continues to Advance Against US Dollar

The British pound jumped against the US dollar at the start of trading this week, continuing to maximize the gains, to record its highest level during the previous trading session at 1.4178.

On the technical side today, with the regularity of work inside the bullish price channel shown on the chart, in addition to the positive stimulus coming from the simple moving averages.

This increases the probability of continuing the rally to visit 1.4210, a first target, knowing that the confirmation of the breach of the aforementioned level is a catalyst that may extend the pair’s gains so that the way is directly open towards 1.4245, an initial station.

A reminder that the activation of the bullish scenario requires stability above the psychological barrier support 1.4110. It should also be noted that breaking the mentioned support and stabilizing the price below it is able to postpone the chances of an upside, and we may witness negative moves targeting 1.4045 and then 1.4000.

S1: 1.4110	R1: 1.4210
S2: 1.4045	R2: 1.4245
S3: 1.4000	R3: 1.4305