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The British pound collided with the psychological barrier located at 1.3700, which was able to limit the bullish tendency to force the pair to trade negatively again.
On the technical side, the current moves are witnessing a bearish tendency due to the negative crossover signals that started appearing on the stochastic indicator, in addition to the intraday stability below 1.3685.
Therefore, the bearish bias is likely today, aiming to re-test 1.3610/1.3600, the first target, bearing in mind that trading below the last represents general negative pressure, opening the way towards 1.3570
Return of trading stability above 1.3685 and the most important 1.3700 negates the activation of the suggested scenario completely, and the pair regains the bullish path again, to touch its initial targets 1.3740 and may extend later towards 1.3765.
| S1: 1.3605 | R1: 1.3685 |
| S2: 1.3570 | R2: 1.3735 |
| S3: 1.3520 | R3: 1.3770 |
