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The British Pound started its daily trading with a bullish bias, taking advantage of building a base on the strong support floor located at 1.3520.
Technically, today we find the 50-day simple moving average holding the price from below, and we find the RSI indicator stable above the 50 midline.
From here, we may witness a bullish tendency during the coming hours, targeting 1.3660 and 1.3700, respectively. The bullish scenario requires intraday stability above 1.3570, and most importantly 1.3540.
The confirmation of the pair’s breach of the pivotal support 1.3520 will cancel the current bullish attempts and renew chances of controlling the downside with the target of 1.3430.
Note: The level of risk may be high today.
| S1: 1.3520 | R1: 1.3700 |
| S2: 1.3430 | R2: 1.3785 |
| S3: 1.3345 | R3: 1.3875 |
