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Negative trading returned to control the movements of the pound sterling against the US dollar after it found a strong resistance level near 1.3640, which forced it to trade negatively again, to record its lowest level during the previous session 1.3657.
On the technical side today, the simple moving averages continue to pressure the price from above, accompanied by the clear negativity on stochastic.
Therefore, the bearish tendency is likely today, provided that we confirm the breach of the 1.3640 support level. This increases the chances of continuing the decline, targeting 1.3610 an initial station, and breaking it will extend the losses that we will be waiting for 1.3565.
From above, in case the pair succeeded in building a base of 1.3640 support, in addition to the return of trading stability above 1.3720, this will immediately stop any attempts to decline, and the pair will recover again, targeting 1.3770 and 1.3800, respectively. CAUTION: The risk level is high.
| S1: 1.3640 | R1: 1.3720 |
| S2: 1.3610 | R2: 1.3770 |
| S3: 1.3565 | R3: 1.3800 |
