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A noticeable rise in the British pound against the US dollar, to reach the third target required to be achieved mentioned in the previous analysis, 1.3990, to surpass the target to 1.3992.
On the technical side, the 50-day moving average continues to support the bullish curve for prices, in addition to the RSI indicator continuing to provide its positive signs.
We tend to be positive, but we prefer to clearly confirm the breach of the psychological barrier of 1.4000, which extends the pair’s gains so that the way is open to a visit to 1.4050, and then 1.4120.
From the bottom, the return of trading stability below the previously breached resistance and converted to the support 1.3930, delay the chances of an upside, and we may witness a re-test of 1.3865/1.3860 before attempting to rise again.
Note: stochastic is around overbought areas.
| S1: 1.3865 | R1: 1.4050 |
| S2: 1.3750 | R2: 1.4120 |
| S3: 1.3685 | R3: 1.4230 |
