Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound touched the second target of the previous report, located at 1.3560, recording a low of 1.3566, which forced it to rebound again, as the pair now hovers around its highest level during the morning session at 1.3572.
On the technical side, despite the bullish bias, we find it still limited and stable below the pivotal resistance 1.3700 / 1.3715. We also find that the stochastic oscillator began to gradually lose the bullish momentum.
Therefore, we maintain our negative outlook, knowing that trading below 1.3650 facilitates the required task of visiting 1.3590, and then 1.3520 awaited stops.
Only from the top, trading above the extended resistance 1.3700 / 1.3715 negates the bearish trend and leads the pair to an upside path targeting 1.3775.
| S1: 1.3590 | R1: 1.7325 |
| S2: 1.3515 | R2: 1.3775 |
| S3: 1.3465 | R3: 1.3855 |
