The British Pound is Testing Resistance

Negative trading dominated the movements of the pound sterling against the US dollar, continuing to decline towards the official target station located at the price of 1.3410, recording the lowest level of the previous year, 1.3420.

On the technical side today, there are signs of positive crossover signs that started appearing on stochastic, which might push the pair to make some positive moves that target retesting 1.3530 & 1.3570 before retracing.

It should be noted that breaking 1.3440 will stop the idea of retesting and lead the pair to resume the official descending path with an initial target of 1.3390 and extend to visit 1.3360 initially.

S1: 1.3445	R1: 1.3530
S2: 1.3390	R2: 1.3570
S3: 1.3360	R3: 1.3620