Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British Pound found a solid support floor around 1.3875, on which it was able to build a base on it to return to the bullish tendency again, recording its highest level at 1.3940.
On the technical side today, with the pair’s success in stabilizing above the mentioned support floor, accompanied by the pair getting a positive stimulus from the 50 days moving average.
From here, we may witness a rising trend in the coming hours, targeting a re-test of the psychological barrier of 1.4000 official stations, and a breach thereof would increase and accelerate the strength of the bullish trend with the target of 1.4065.
From the bottom, a break of 1.3875 negates the bullish scenario completely and leads the pair to a downside path, its initial target 1.3810.
| S1: 1.3875 | R1: 1.3970 |
| S2: 1.3820 | R2: 1.4000 |
| S3: 1.3780 | R3: 1.4065 |
