Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trades dominated the movements of the Sterling Pound within the expected bullish track, touching the desired target at 1.1930, recording its highest price at 1.1930.
On the technical side, today, we find the 50-day simple moving average, which continues to hold the price from below, accompanied by the emergence of positive signs on the momentum indicator, trying to support the bullish daily curve.
Therefore, above 1.1735 encourages us to keep our positive expectations, targeting 1.2000/1.2020 as the next price target and a catalyst breach that extends the gains towards 1.2170.
Only from below, the return of trading stability below 1.1735 puts the price under negative pressure, targeting 1.1700, knowing that breaking the latter leads the pair to retest 1.1600.
Note: We are awaiting important data from the British economy in today’s session, “the annual consumer price index,” and we may witness high volatility in prices.
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.
| S1: 1.1735 | R1: 1.2020 |
| S2: 1.1595 | R2: 1.2170 |
| S3: 1.1445 | R3: |