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The British pound managed to maintain positive stability against the US dollar within the expected bullish context during the previous report, touching the first target required to be achieved at 1.1820, recording the highest level at 1.1855.
On the technical side today, the simple moving averages continue to provide additional incentive to the price, in addition to the pair’s success in establishing a strong support floor of around 1.1660.
Therefore, we tend to the positivity, targeting 1.1865, a first target, considering that shorting up and moving above the mentioned level increases and accelerates the strength of the daily bullish trend, so we are waiting for 1.1965 next station as long as trading is stable above 1.1660.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
| S1: 1.1660 | R1: 1.1865 |
| S2: 1.1550 | R2: 1.1965 |
| S3: 1.1450 | R3: |