The Pound to The Upside

Positive trades dominated the pound sterling’s movements during the previous trading session. We remained neutral in the last analysis due to the conflicting technical signals, explaining that the breach of 1.3570 led the pair to visit 1.3640, recording its highest level at 1.3660.

Technically, today we tend to the positivity, relying on the stability of trading above the psychological barrier of 1.3600, which is accompanied by the positive motive of the 50-day moving average, which holds the price.

The bullish bias is the most preferred today, targeting 1.3800, an awaited target unless we witness the return of trading stability below 1.3600 because this increases the possibility of retesting 1.3570.

S1: 1.3570	R1: 1.3800
S2: 1.3505	R2: 1.3950
S3: 1.3450	R3: 1.4020