Pound Breaks The Support

The British Pound succeeded in touching our target at 1.3610, recording a low of 1.3606.

On the technical side, today, as the pair failed to maintain trading above 1.3650, accompanied by negative pressure coming from the 50 day moving average.

Consequently, the bearish scenario will remain valid and effective targeting 1.3585 first target, and then 1.3560 next station, whose downside targets may extend later towards 1.3510.

Trading stability in general below 1.3710 is an important and essential condition for activating the suggested bearish scenario.

S1: 1.3585	R1: 1.3665
S2: 1.3560	R2: 1.3710
S3: 1.3510	R3: 1.3750