Sterling Kicks Off on a Positive Note

Positive trading dominates the GBP/USD pair, benefiting from the 1.3840 support level.

On the technical side, we tend to positivity, based on the stability of the RSI above the mid-line 50, coinciding with the positive impetus of the 50-day moving average.

Therefore, the bullish bias is likely today, provided that we witness a breach and stability of the price above 1.39.00/1.3910 to target 1.3940, and the gains may extend later to visit 1.3980.

Trading below the 1.3860 level, and the key level at 1.3840, can thwart the bullish scenario, and the bearish trend would regain control of the pair’s movements, with an initial target of 1.3760. Warning: high-risk levels.

S1: 1.3840	R1: 1.3910
S2: 1.3790	R2: 1.3940
S3: 1.3760	R3: 1.3985