Pound Maintains Negative Stability

The British Pound maintains negative stability as a result of the pair’s price remaining below 1.3970 within the expected bearish path, reaching its lowest level at 1.3885.

On the technical side, today we are biased towards negativity, but cautiously, depending on the negativity of the stochastic indicator. Therefore, the bearish scenario will remain valid and effective, knowing that breaking 1.3885 will facilitate the task required to visit 1.3855, and then 1.3820, an official station awaited.

The activation of the bearish scenario depends on the price remaining below 1.3970, and its breach is capable of thwarting the downside attempts, and the pair regains its recovery with the first target of 1.4000 that may extend later towards 1.4030.

S1: 1.3895	R1: 1.3960
S2: 1.3855	R2: 1.4000
S3: 1.3820	R3: 1.4030