Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading dominated the movements of the pound sterling against the US dollar within the expected bearish path, touching our first target to be achieved at 1.3850, recording the lowest price of 1.3830.
On the technical side today, with the pair’s failure to maintain trading above the support level of 1.3875, accompanied by the continuous negative pressure on the pair from the 50-day moving average.
Consequently, the bearish bias is likely today, towards the second target 1.3815 / 1.3810, and then 1.3780, with downside targets may extend towards 1.3750.
From the top, crossing to the upside and rising again above 1.3890 is able to postpone the bearish scenario, and we may witness a slight bullish slope targeting 1.3940.
| S1: 1.3815 | R1: 1.3895 |
| S2: 1.3780 | R2: 1.3940 |
| S3: 1.3740 | R3: 1.3975 |
