Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound opened the day with a bullish tone against the U.S. dollar, in line with the positive outlook outlined in yesterday’s report. At the time of writing, the pair is stabilizing near the morning high of 1.3455.
On the 4-hour chart, technical indicators continue to support the bullish bias. The simple moving averages are trending upward, providing dynamic support, while the Relative Strength Index (RSI) is offering positive momentum, reinforcing the likelihood of further gains.
As long as price action remains above 1.3400, the uptrend remains dominant, with the next immediate target at 1.3475. A confirmed break above this level could extend gains toward the psychological resistance at 1.3500.
However, a return to price consolidation below 1.3400, particularly with a confirmed hourly candle close, may weaken the bullish momentum. In this scenario, the pair could face downside pressure, targeting 1.3370, followed by 1.3340.
Risk Disclaimer:
Amid continued global trade tensions and broader macroeconomic uncertainty, the risk environment remains elevated. Traders should remain vigilant and prepared for potential volatility and swift market reactions.
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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