Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound continues its attempts to maintain the bullish bias against its Japanese counterpart within the bullish path published during the previous analysis, recording its highest level at 156.25.
Technically, today, and as seen on the 60-minute chart, there is a possibility to continue rising with the price stability above the 155.45 support level, accompanied by the positive stimulus of the 50-day moving average.
Therefore, the bullish bias is still valid to visit 156.45, and confirming its breach may facilitate the task required to visit the 157.00 areas as a next stop as long as the price is stable above the 155.45 support level.
The decline below the mentioned support level might put the price under negative pressure, its initial target to retest 155.00 and 154.60 respectively.
| S1: 155.45 | R1: 156.50 |
| S2: 154.70 | R2: 157.00 |
| S3: 154.30 | R3: 157.60 |
