Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound achieved the official bullish target published during the last analysis. It consolidated above the previously mentioned resistance level at 1.3580, heading to visit the official price station 1.3640, an obstacle in front of the pair that forced it to trade negatively again.
On the technical side today, the pair’s movements returned to stability below the psychological barrier of 1.3600 and stable below 1.3580, the 38.20% Fibonacci correction as shown on the chart.
Therefore, there may be a bearish bias during today’s trading session to visit 1.3480, considering that the decline below 1.3460 50.0% Fibonacci correction may force the pair to fall towards 1.3440 as long as the price is stable below 1.3610.
Rising above 1.3610 may postpone the idea of a decline, and we will witness a trading session that tends to rise to visit 1.3680.
| S1: 1.3480 | R1: 1.3610 |
| S2: 1.3440 | R2: 1.3690 |
| S3: 1.3365 | R3: 1.3735 |
