Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The GBP/USD pair trended positively during the previous trading session, reaching a high of 1.3485.
Technical Outlook – 4-Hour Timeframe:
The price is holding above the 50-day simple moving average, and the Relative Strength Index (RSI) is returning to positive signals on shorter timeframes.
As long as daily trading holds above the 1.3415 support level, the bullish bias remains the most likely scenario, targeting 1.3510. A break above this level could open the way for a direct move towards 1.3545.
Conversely, a confirmed break below the 1.34315 support level could put the pair under temporary downward pressure, initially targeting 1.3355.
Note: Today, we await high-impact economic data from the US, specifically the monthly and annual Consumer Price Index (CPI). We may see significant price volatility around the time of the release.
Warning: The level of risk is high amid ongoing trade and geopolitical tensions, and all scenarios are possible.
Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.3415 | R1: 1.3510 |
| S2: 1.3355 | R2: 1.3545 |
| S3: 1.3320 | R3: 1.3600 |
