GBP: Based on Support

The British Pound found a solid support floor near the second target to be achieved at 1.3600, recording 1.3610, to return to the bullish rebound significantly again, as the current movements for the morning period witnessed stability in the price around the high of 1.3752.

On the technical side, today, with trading remaining above the psychological barrier of 1.3700, accompanied by the positive stimulus of the 50-day moving average that holding the price from below and meets around 1.3650, adding to this support more strength. This increases the possibility of continuing the daily bullish trend, targeting 1.3785, noting that breaching it increases and accelerates, confirming the strength of the daily bullish trend, targeting 1.3840.

Trading stability below 1.3650 / 1.3645 negates the expected bullish scenario, and the bearish tendency will return to control the movements of the British Pound with the aim of re-testing 1.3555.

Note: Stochastic is trading around the intraday overbought area.

S1: 1.3645	R1: 1.7385
S2: 1.3555	R2: 1.3840
S3: 1.3500	R3: 1.3925