Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound achieved the desired target against the US dollar at 1.2920, reaching a high of 1.2924 during the previous trading session.
Technical Outlook
- Bullish Signals:
- The simple moving averages continue to provide positive momentum.
- Intraday trading remains stable above the key psychological level of 1.2800.
- Potential Upside:
- The bullish scenario remains intact, targeting 1.2955 as an initial level.
- A break above this target could act as a catalyst, increasing the likelihood of reaching the official target of 1.3000.
- Bearish Contingency:
- Should trading stability and price cohesion fall below 1.2800, the pair may experience temporary negative pressure, potentially leading to a retest of 1.2710.
Risk Warning
Ongoing trade tensions and other market risks mean that multiple scenarios remain possible.
Economic Data Impact:
High-impact US economic data—specifically US non-farm payrolls, unemployment rates, and average wages—is scheduled for release today, which could result in significant volatility.
Market Uncertainty:
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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