Sterling Based on Support And Positivity Remains

The British pound showed a bullish tendency against the US dollar after it succeeded in building on the psychological support floor of 1.3800, which forced the pair to rebound to the upside to retest 1.3875.

On the technical side, today, we tend to the positivity, but with caution, relying on the stability of trading in general above 1.3800, in addition to the positive stimulus coming from the 50-day moving average.

Today, we may witness touching 1.3900 and 1.3930 levels, respectively, as initial targets that may extend later to visit 1.3975. However, the continuation of activating the buying positions depends on trading above 1.3800, and breaking it leads the pair to the official descending path, with a target of 1.3760 and 1.3720, respectively.

S1: 1.3815	R1: 1.3900
S2: 1.3760	R2: 1.3930
S3: 1.3720	R3: 1.3985