Noor Trends News, Technical Analysis, Educational Tools and Recommendations
As we expected, the British pound achieved substantial gains against its Japanese counterpart, touching the official target during the previous trading session at 156.10, recording a high of 156.15.
On the technical side, we maintain our positive outlook, relying on the pair’s continuation of obtaining a positive stimulus from the 50-day moving average, which continues to hold the price from below, supporting the occurrence of more rise, in addition to the pair’s anchoring at the 155.10 support level.
Therefore, the bullish scenario remains valid and effective, targeting 156.60 as the next target, and its breach will extend the pair’s gains so that we will be waiting for 157.20. The activation of the suggested scenario depends on the stability of the intraday trading above 155.50 and above 155.10.
| S1: 155.10 | R1: 156.60 |
| S2: 154.10 | R2: 157.20 |
| S3: 153.60 | R3: 158.10 |
