Noor Trends News, Technical Analysis, Educational Tools and Recommendations
For the second session in a row, the British pound failed to stabilize above the resistance level of the psychological barrier 1.3600, which forced the pair to have a bearish bias and start its first weekly trading below the mentioned level.
On the technical side, today, and carefully looking at the 240-minute chart, we notice the clear negative signs on Stochastic, in addition to the negative pressure attempts coming from the 50-day moving average.
Therefore, there may be a possibility to retest 1.3500 initial price station, whose negative targets may extend to visit 1.3460 50.0% Fibonacci retracement, as long as the pair is stable below the main 1.3600 supply area.
| S1: 1.3500 | R1: 1.3600 |
| S2: 1.3460 | R2: 1.3650 |
| S3: 1.3410 | R3: 1.3735 |
