Noor Trends News, Technical Analysis, Educational Tools and Recommendations
An upward trend dominated the GBP/USD pair at the end of last week’s trading, reaching a high of 1.3363.
Technical Outlook – 4-Hour Timeframe:
Simple moving averages continue to provide positive momentum, supporting ongoing upward attempts. This is reinforced by positive divergence signals on the Relative Strength Index (RSI), along with the pair’s commitment to an upward corrective wave.
As long as daily trading holds above the 1.3300 support level, the likelihood of further upside remains higher, targeting 1.3375 and then 1.3410.
Conversely, a confirmed break below the 1.3300 support level could place the price under pressure, potentially leading to a retest of 1.3290.
Caution: The level of risk is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.3315 | R1: 1.3375 |
| S2: 1.3290 | R2: 1.3410 |
| S3: 1.3255 | R3: 1.3440 |
