Sterling is Settled Below Resistance

The British pound achieved the first bearish target during the previous session. The breach below the 1.3280 support level presses the price to touch the price station at 1.3200, recording the lowest at 1.3194.

On the technical side, today, the RSI started to get bullish momentum signals on the short time frames due to stabilizing above its mid-line, which might push the pair to retest 1.3380 before falling again.

The bearish context is likely during the day, knowing that trading below 1.3210 leads the pair to consolidate within the descending price channel, which targets around 1.3120.

S1: 1.3215	R1: 1.3400
S2: 1.3120	R2: 1.3470
S3: 1.3040	R3: 1.3570