Pound Positivity Looking For Confirmation

We committed to the intraday neutrality during the previous analysis due to the conflict of technical signals, indicating that we are waiting for the activation of long positions, which depend on price stability above 1.3900, targeting 1.3940, to record its highest levels during the last session’s trading at 1.3930.

On the technical side, today, the current moves are witnessing stability above the minor support of 1.3870/1.3860, and the 50-day moving average still supports the possibility of an upside. We tend to be positive, but cautiously, targeting 1.3935, knowing that the breach thereof is a catalyst that increases the probability of touching 1.3970/1.3980.

Trading below 1.3860 postpones bullish chances and puts the price under negative pressure, its initial target 1.3820/1.3800.

Note: the level of risk may be high

S1: 1.3815	R1: 1.3940
S2: 1.3760	R2: 1.4010
S3: 1.3685	R3: 1.4070