Cable Settled Below Resistance

Over the course of several consecutive sessions, the British Pound failed to stabilize for a long time above the psychological barrier resistance at 1.4000.

On the technical side, today the current moves are witnessing a stable downward slope below 1.3955, and we find the 50-day moving average pressuring the price from the top.

We tend to be negative, but we prefer to wait for confirmation of the breach of the support level of 1.3890 and the most important 1.3875, which puts the price under strong negative pressure, its initial target of 1.3825 and extending to 1.3765.

Trading again above 1.3955 and the most important 1.4000 is able to foil any attempts to descend, and we are witnessing a bullish trend targeting 1.4045, and then 1.4090.

Note: Stochastic is trading around oversold areas.

S1: 1.3875	R1: 1.3985
S2: 1.3825	R2: 1.4045
S3: 1.3765	R3: 1.4090