Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive movements dominated the movements of the British pound against its Japanese counterpart, within attempts to stabilize above the support level of 149.60.
Technically, and carefully looking at the 60-minute chart, we find Stochastic is trying to get rid of the current negativity, in addition to the RSI’s attempts to get more bullish momentum.
From here, and steady intraday trading above the support level of 149.60, the bullish bias is likely today, targeting 150.55 first target, and breaching it increases the strength of the bullish bias we will be waiting for 151.10 and 151.40, respectively.
Declining below the support level of 149.60 will invalidate the suggested scenario’s activation. As a result, we are witnessing a negative trading session whose targets are around 149.10 and 148.60, respectively.
| S1: 149.55 | R1: 150.55 |
| S2: 149.15 | R2: 151.15 |
| S3: 148.55 | R3: 151.55 |
