Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trades continue to control the price of the pound sterling against the US dollar, gradually approaching the first target expected during the previous analysis at 1.4180, recording a high of 1.4165.
On the technical side today, we tend to be positive in our trading, relying on the price’s intraday stability above 1.4110/1.4100, accompanied by the continued positive stimulus coming from the simple moving averages.
From here, and steadily trading above the aforementioned support, a bullish bias is likely today, knowing that trading above 1.4180 increases and accelerates the upside move with the first target of 1.4200 and then 1.4240, respectively.
Activating the bullish scenario depends on trading stability above 1.4110, and breaking it will stop the bullish trend and put the price under temporary negative pressure, whose initial target is to re-test 1.4040.
Note: Stochastic trading around overbought areas.
| S1: 1.4110 | R1: 1.4170 |
| S2: 1.4040 | R2: 1.4200 |
| S3: 1.3995 | R3: 1.4325 |
