GBP Reiterating Bullish Chances

The pair has not undergone any change, and the negative outlook remains in place, maintaining the positive stability, as we expected within a gradual rise to the upside.

On the technical side, and with a closer look at the 4-hour chart, we find that there are positive crossover signals that still dominate the stochastic to get rid of the negativity, and by looking at the 60-minute chart, we find positive attempts coming from the RSI.

From here, the stability of the intraday trading above the support level of 1.3310 and the most important 1.3290 makes us hold onto our positive expectations targeting 1.3380 as a first target, and confirming the breach of the mentioned level increases the possibility of continuing the bullish bias to initially visit 1.3430.

On the downside a break of 1.3290 negates the suggested bullish scenario and putting the pair under temporary negative pressure, targeting a re-test of 1.3220.

S1: 1.3320	R1: 1.3400
S2: 1.3270	R2: 1.3435
S3: 1.3220	R3: 1.3480