Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound continued its gradual decline against the U.S. dollar, in line with previous technical expectations. During the last session, the pair recorded a new low at 1.3378, approaching the projected support target at 1.3370.
Technical Outlook – 4-Hour Timeframe:
Bearish pressure remains evident, with the simple moving averages acting as dynamic resistance, capping any recovery attempts. The 50-period moving average currently aligns with the 1.3460 resistance zone, reinforcing its role as a key technical barrier. However, the Relative Strength Index (RSI) is showing positive crossover signals from oversold territory, indicating a potential for a short-term rebound.
Likely Scenario – Bearish Bias:
As long as the pair remains below 1.3450, and more importantly 1.3460, the downward trend is expected to continue. A confirmed break below 1.3360 would likely accelerate losses, with downside targets at 1.3320, followed by 1.3270.
Alternative Scenario – Temporary Recovery:
If the pair breaks above 1.3460 and stabilizes, this could signal a short-term bullish correction, with upside potential toward a retest of 1.3505.
Market Catalyst:
Traders should prepare for increased volatility as the market awaits the release of high-impact U.S. economic data, including monthly and annual Core Producer Price Index (PPI) figures.
Caution:
Amid ongoing geopolitical and trade tensions, risk remains elevated. All outcomes are possible, and disciplined risk management is strongly advised.
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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