Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound incurred heavy losses against the US dollar, as we expected, surpassing the last target required to be achieved during the previous analysis at 1.3210, recording a low of 1.2187.
On the technical side, we tend to be negative in our trading, relying on intraday trading below the 1.3470 / 1.3485 resistance level, accompanied by continued negative pressure on the price from the top, in addition to the negativity features that still dominate Stochastic.
Therefore, 1.3290 is a first goal, then 1.3210 next stop. Keep in mind that confirming a break of 1.3180 will extend losses to the downside, extending the downside wave towards 1.3020, retracing 23.60%.
To remind you that the return of trading stability again above 1.3500 will immediately stop attempts to decline, and we will witness a re-test of 1.3540 and extend to 1.3640.
| S1: 1.3210 | R1: 1.3540 |
| S2: 1.3030 | R2: 1.3700 |
| S3: 1.2870 | R3: 1.3875 |
