Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound continued to rise against its Japanese counterpart, within the positive outlook, as we expected, touching the target of 158.20, posting a high of 158.20.
Today’s technical aspect indicates the possibility of continuing the rise due to building on 157.30 support floor, accompanied by the positive motive for the 50-day moving average.
The breach of 158.20 will extend the pair’s gains, so we can wait for the first target to touch 158.65, knowing that trading above the mentioned target contributes to enhancing the chances of ascending towards 159.10.
on the downside, breaking 157.30, below support, putting the price under negative pressure, and the start of entering a minor bearish correction would be its initial target of 156.20.
| S1: 157.30 | R1: 158.65 |
| S2: 156.20 | R2: 159.10 |
| S3: 155.90 | R3: 160.00 |
