Sterling Continues to Advance Against The US Dollar

The British pound continued to achieve the expected gains against its American counterpart, touching the first target mentioned in the previous analysis, at 1.3840, to record its highest level at 1.3845 during the morning session of the current session.

On the technical side today, and with careful consideration on the 4-hour chart, the pair continues to obtain positive stimulus from the 50-day moving average, accompanied by the RSI providing more bullish momentum.

Therefore, we will maintain our positive outlook, completing the second target 1.3880/1.3890, a next station whose gains may extend later towards 1.4000.

Activating the bullish scenario depends on the pair remaining above the 1.3760 support level. 

S1: 1.3780	R1: 1.3860
S2: 1.3730	R2: 1.3890
S3: 1.3690	R3: 1.3940