Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The movements of the Pound witnessed a negative trading session, as we expected, touching the official target mentioned in the previous technical analysis, at 1.3210, recording its lowest level at 1.3210.
On the technical side today, with the movement within the bearish channel shown on the graph and the negative pressure coming from the 50-day simple moving average.
The bearish scenario remains the most likely today, knowing that the break of 1.3195 will extend the losses and open the door to visit 1.3150 and 1.3100, respectively.
The upside move and price stability above the 1.3300 resistance and, most importantly, 1.3330 can thwart the suggested scenario and lead the price to a bullish intraday track with its target of 1.3390.
| S1: 1.3195 | R1: 1.3295 |
| S2: 1.3150 | R2: 1.3350 |
| S3: 1.3095 | R3: 1.3390 |
