Noor Trends News, Technical Analysis, Educational Tools and Recommendations
A noticeable bullish rush managed to dominate the trading of the British pound against the US dollar within the positive technical outlook, as we expected yesterday, touching the first station 1.1350 and approaching by a few points from the official station of 1.1465, recording its highest level at 1.1440 during the early trading of the current session.
On the technical side, stochastic is witnessing some negativity today due to yesterday’s rise. However, we notice the positive signs on the RSI that continue defending the daily bullish trend.
Therefore, the bullish trend is the most likely during today’s session. Still, we wait for the momentum indicator to get rid of the temporary negative signs, continuing towards the rest of the previous analysis targets 1.1465 and 1.1495 next stations, knowing that the consolidation above 1.1500 extends the pair’s gains, opening the door towards 1.1560 as long as the daily trading is stable above 1.1220.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
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