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Negative trading still dominates the movements of the pound sterling against the US dollar, to start pressing the 1.3880 support level.
On the technical side, we tend to be negative, relying on the pair’s failure to maintain the trading level above 1.3890, accompanied by the negative pressure coming from the 50-day moving average, which comes in conjunction with the clear negative signs on the stochastic indicator.
We await confirmation of breaking 1.3880 to target 1.3840/1.3830, a first target, and then 1.3795 next official station. The return of trading stability again above 1.3930 will immediately stop any negative movements and the pair will recover again with the aim of retesting 1.4000.
Note: the level of risk is high
| S1: 1.3860 | R1: 1.3930 |
| S2: 1.3830 | R2: 1.3965 |
| S3: 1.3790 | R3: 1.4010 |
