Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The technical outlook remains unchanged, with the British pound attempting to sustain its gains against the U.S. dollar after successfully retesting the 1.2415 support level.
From a technical perspective, the pair continues to trade above the 50-day simple moving average, supported by stability above the 1.2410 support level.
As long as the price remains above 1.2500, the bullish outlook may persist, with potential gains extending toward 1.2580.
Conversely, a confirmed break below 1.2410—especially below 1.2400—could expose the pair to strong downside pressure, targeting 1.2330.
Caution: The market is anticipating high-impact economic data releases from the U.S., including the Federal Reserve statement, Fed Chair press conference, and interest rate decision, as well as Canada’s interest rate announcement and Bank of Canada monetary policy statement. Expect heightened price volatility during the news release.
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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