Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading returned to dominate the movements of the pound sterling against its Japanese counterpart after several consecutive sessions of a slight incline, recording the highest price of 154.06.
Technically, the pair failed to maintain trading above the previously broken support level located at 153.60/153.40, as we find the negative features dominating the stochastic indicator, missing the bullish momentum.
Therefore, the bearish trend is preferable today, targeting 152.00, knowing that the breach of the mentioned level will extend the losses, so we are waiting for 151.50.
To remind you that activating the suggested bearish scenario requires trading to remain below 153.30. Its breach will negate the bearish direction and lead the bullish track with an initial target of 154.60.
| S1: 152.05 | R1: 153.60 |
| S2: 151.45 | R2: 154.60 |
| S3: 150.45 | R3: 155.20 |
