Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the movements of the pound sterling against its Japanese counterpart within the expected bullish context, heading to touch the target of retesting the resistance published during the previous report located at 150.60 to record its highest level during the early trading of the current session 150.86.
On the technical side today, and by looking at the chart, we find the simple moving averages holding the price back from below, and the RSI started to gain bullish momentum on the short time frames.
From here, and with stability above 150.00/149.80, the bullish bias is the most preferred today, targeting 151.40 and 151.70, respectively.
To remind that activating the suggested bullish scenario requires the price to remain above 149.80, and breaking it will immediately stop attempts to rise and lead the pair to the official descending path, with the first target of 148.80, and extend later to visit 148.40.
| S1: 149.80 | R1: 151.40 |
| S2: 148.80 | R2: 151.80 |
| S3: 148.40 | R3: 152.80 |
