Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading dominated the movements of the pound sterling against its Japanese counterpart within the expected bearish path during the previous analysis, touching the awaited target 157.30, recording its lowest level in the last session’s trading session, 156.78.
On the technical side today, and by looking at the 60-minute chart, we notice that the pair continues to obtain negative pressure from the 50-day moving average, accompanied by a gradual loss of bullish momentum by stochastic.
Therefore, we maintain our negative outlook, continuing towards the targets of the last analysis 156.60, and then 156.00, the next waiting station, knowing that activating the suggested bearish scenario depends on the stability of trading below the resistance level of the psychological barrier 158.00.
| S1: 157.30 | R1: 158.65 |
| S2: 156.20 | R2: 159.10 |
| S3: 155.90 | R3: 160.00 |
