Pound Stable Below The Resistance

The technical outlook is unchanged, and the movements of the British pound against the US dollar did not change, maintaining the negative stability, with regular moves within the descending channel.

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 find the 50-day moving average that still constitutes an obstacle for the pair.

Therefore, we may witness a temporary rise to retest the extended resistance level 1.3330/1.3300 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 following official stations. In general, we suggest the overall bearish trend As long as trading is stable below 1.3380.

S1: 1.3210	R1: 1.3295
S2: 1.3170	R2: 1.3335
S3: 1.3130	R3: 1.3380