Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound witnessed positive trading against the US dollar, retesting the main resistance level at 1.2730.
From a technical perspective today, the pair remains stable below the 1.2730 resistance level, unable to breach it. Additionally, the Stochastic indicator continues to provide negative signals, supported by the bearish technical structure visible on the 4-hour chart.
Accordingly, the bearish trend is favored for today’s session, targeting 1.2670 as the first objective. Breaking this level would further pave the way toward the next targets at 1.2630 and 1.2600.
On the other hand, stability above 1.2730 would invalidate the bearish outlook, allowing the pair to resume its upward trajectory with initial targets at 1.2770 and 1.2810.
Alert: Today’s trading session is expected to experience significant volatility as the U.S. releases high-impact economic data, including the interest rate decision, Federal Reserve statement, economic forecasts, and the Fed Chair’s press conference.
Warning: The risk level remains high amid ongoing geopolitical tensions, leaving all scenarios possible.
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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