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Negative trading dominated the movement of the pound sterling against the US dollar, approaching a few points difference from the required target of 1.3660, recording its lowest level at 1.3670.
On the technical side, today the current movements are witnessing a positive bias, and with a closer look, we find the stochastic indicator is trading around overbought areas, in addition to trading stability below the previously breached support level converted to the 1.3800 resistance level.
Consequently, the bearish scenario will remain valid and effective, targeting 1.3700 first target, and then 1.3640 a next official stop that may extend later towards 1.3600.
From the top, trading is above 1.3800 that is able to negate the expected bearish bias, and we may witness a slight upside bias targeting 1.3830 and 1.3880, respectively.
| S1: 1.3700 | R1: 1.3795 |
| S2: 1.3635 | R2: 1.3830 |
| S3: 1.3600 | R3: 1.3880 |
