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 during the previous report, recording the highest around 151.65.
Technically, we noticed the stability of the intraday movements above the support level of 151.10, and stochastic started sending positive acceleration signals on the 4-hour time frame.
Therefore, we maintain our positive expectations, continuing towards the target to be achieved during the previous report at 152.30/152.20, and the gains may extend to visit 152.70.
Trading below 151.10 negates the attempts to rise and renews the chances of negative pressure on the pair to retest 148.70 and 148.30. Note: The risk level is high.
| S1: 151.10 | R1: 152.30 |
| S2: 148.70 | R2: 153.05 |
| S3: 147.95 | R3: 153.50 |
