Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound began the week with an upward price gap, pushing it above the resistance level of 1.2560.
Technically, the outlook leans cautiously positive, supported by the pair’s ability to maintain momentary stability above the key resistance of 1.2560. Additionally, the Stochastic indicator shows signs of overcoming its recent bearish momentum, suggesting potential recovery.
From this point, the pair may attempt to rebound during today’s session, with an initial target of 1.2635. A breach of this level could further strengthen the upward trend, clearing the way toward 1.2680.
Conversely, if the pair fails to sustain trading above 1.2560, it could invalidate the bullish outlook, resuming its primary bearish trajectory with targets at 1.2510 and potentially extending to 1.2450.
Warning: The risk level remains high amid persistent geopolitical tensions, leaving all scenarios on the table.
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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