GBP trying to get positive signals 24/4/2023

Mixed trading dominates the movements of the British pound against its American counterpart as it maintains positive stability above the strong support floor located at 1.2370.

On the technical side today, the stability of trading above 1.2370 increases the positivity, accompanied by the pair continuing to receive a positive impulse from the simple moving average, which continues to hold the price from below.

We tend to be positive, but with caution, and it is better to wait for the confirmation of the breach of 1.2465, which reinforces the imposition of a rise to visit 1.2505 & 1.2550.

Stochastic provides negative signals in an intraday manner that might make us witness some fluctuation until we get a bullish trend, while keeping in mind that breaking 1.2370 will put the pair under negative pressure, its initial target is 1.2330.

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: 1.2380	R1: 1.2465
S2: 1.2330	R2: 1.2505
S3: 1.2295	R3: 1.2550