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GBP, Pound, Technical Analysis

Pound Returns Gains Against USDollar

Adel 4 May, 2021 11:00 am Daily Technical Analysis, Technical Analysis

The British pound made noticeable gains against the US dollar during the previous trading session, to re-test the 1.3930 resistance level.

On the technical side, today the pair was able to build a base on the previously breached support floor located at 1.3865, in addition to the continuation of the 50-day moving average support for the bullish curve of prices. Therefore, we may witness positive trading targeting 1.3955 and 1.4000, respectively.

Only from below is the return of trading stability again below 1.3865 capable of aborting the bullish bias and leading the pair to the downside path again with an initial goal of 1.3825 that may extend later towards 1.3765.

S1: 1.3825 R1: 1.3955 
S2: 1.3750    R2: 1.4010 
S3: 1.3700   R3: 1.4085   

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