GBP needs careful consideration

The British Pound succeeded in achieving the positive outlook, as we expected, surpassing the second goal around 1.3380, reaching its highest level at 1.3397.

On the technical side, the pair was subjected to strong negative pressure as a result of approaching the psychological barrier resistance of 1.3400, to witness the current moves a stable bearish tendency below 1.3380, but the simple moving averages are still holding the price from below, and we also find the stochastic indicator trying to get rid of the current negativity.

Hence, long positions are the most preferred today, with trading remaining above 1.3310 targetings 1.3390.

Trading below 1.3290 is able to negate the bullish scenario and put the price under negative pressure, its initial target 1.3265 and extending to 1.3200.

Warning: The level of risk may be high today and careful consideration is required.

S1: 1.3265	R1: 1.3400
S2: 1.3195	R2: 1.3465
S3: 1.3130	R3: 1.3530