Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound touched against its Japanese counterpart, the first target to be achieved during the previous report, located at 139.80, to hit its highest level at 138.84.
On the technical side, the current moves are witnessing a bearish bias, as a result of stochastic losing bullish momentum, in addition to intraday trading below the psychological barrier 140.00.
Consequently, we may witness a slight bearish tendency during the coming hours with the aim of re-testing the support level of 138.80, a first target, knowing that trading below the aforementioned level puts the price under temporary negative pressure targeting 138.40.
From the top, crossing over to the upside and rising above 140.00 will immediately stop attempts to decline and lead the pair to the bullish path, with initial targets starting at 140.20 and extending to 140.60. Warning: The level of risk may be high today.
| S1: 139.10 | R1: 139.80 |
| S2: 138.75 | R2: 140.20 |
| S3: 138.40 | R3: 140.60 |
