Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The movements of the pound against the US dollar witnessed a bearish bias as it was retesting the support mentioned In the previous analysis, through which we targeted a re-test of 1.3550, to record the pair’s lowest price at 1.3538.
On the technical side, the current moves are witnessing stability below the extended resistance 1.3630 / 1.3650, as we find negativity still dominating the stochastic indicator, which gradually started losing the bullish momentum. Therefore, the bearish bias is likely today, targeting 1.3530 the first target, and then 1.3470 a next stop.
Back to the upside and rising again above 1.3650 negates the suggested bearish scenario, and we may witness positive trades targeting 1.3730.
| S1: 1.3530 | R1: 1.3665 |
| S2: 1.3470 | R2: 1.3735 |
| S3: 1.3400 | R3: 1.3800 |
