Pound Retests Resistance

The pound’s movements are witnessing attempts to recover to start today’s session positively, building on the psychological support floor of 1.3200, approaching 1.3300.

On the technical side today, we notice that the RSI is getting positive signals on the short time frames, and on the other hand, we see the 50-day moving average that is still an obstacle for the pair.

Therefore, we may witness a temporary rise to retest the extended resistance level 1.3350/1.3330 before the start of the decline again, taking into account that the return of the stability of trading below 1.3240 facilitates the task required to visit 1.3200 and 1.3165 next stop. In general, we suggest the overall bearish trend As long as trading is stable below 1.3380.

S1: 1.3240	R1: 1.3310
S2: 1.3200	R2: 1.3335
S3: 1.3165	R3: 1.3380