Pound Confirms The Break And Continues to Achieve Descending Targets

The pound sterling continues to trade negatively against the US dollar in the bearish path, as we expected, touching the first target required to be achieved during the previous analysis at 1.3870.

On the technical side today, and with the pair’s success in confirming the breach of 1.3875, which has now turned into resistance, in addition to the negative pressure coming from the 50-day moving average.

From here, we hold onto our negative expectations, targeting 1.3790 the first target, knowing that breaking it increases and accelerates the strength of the bearish trend so that the way is open directly towards 1.3750 initially. Activating the bearish scenario depends on trading remaining below 1.3875.

S1: 1.3790	R1: 1.3875
S2: 1.3750	R2: 1.3890
S3: 1.3720	R3: 1.3920