Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound continued its upward trend against the US dollar, progressing toward the target of 1.2760 from our previous report and reaching a high of 1.2788.
Technical Outlook
- Bullish Indicators:
- The simple moving averages have resumed providing positive momentum, supporting the uptrend.
- The Relative Strength Index (RSI) is showing clear bullish signals.
- The breach of the psychological resistance level at 1.2700—now acting as support—further reinforces the bullish scenario.
- Potential Targets:
- With the current momentum, an upward move toward 1.2825 appears likely as the initial target.
- A break above 1.2825 could further accelerate gains toward 1.2860 and potentially even 1.2920.
- Bearish Contingency:
- Should trading stability and price cohesion fall below 1.2715, the pair may reverse into a corrective downward trend, targeting 1.2645 initially.
Risk Warning
Ongoing trade tensions continue to pose risks, and multiple scenarios remain possible.
Economic Data Impact:
High-impact US economic data, specifically the “non-farm private sector employment data,” is scheduled for release today, which could lead to increased volatility in both prices and news.
Market Uncertainty:
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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