Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound recorded noticeable increases during the previous session, canceling the expected negative outlook in the last analysis, touching the mentioned stop-loss order at 1.3530, recording the highest level at 1.3557.
On the technical side, today, we see the pair returned to stability above the 1.3470 support level, accompanied by the positive motive of the simple moving averages, which is accompanied by the stability of the RSI above the mid-line 50.
Therefore, we will turn to a daily bullish trend, targeting 1.3570 Fibonacci of 61.80%, a first target, and its breach will pave the way to visit 1.3610.
From below, trading below 1.3470, reinforces the chances of the bearish trend. As a result, we are witnessing a trading session in the red areas, with its initial target 1.3415, while its official target is 1.3370.
| S1: 1.3470 | R1: 1.3570 |
| S2: 1.3415 | R2: 1.3615 |
| S3: 1.3370 | R3: 1.3675 |
