Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trades dominated the pound’s movements against the US dollar, benefiting from the solid support floor published during the previous report at 1.3160, explaining that it represents one of the essential directional keys for the current trading levels, which forced the pair to rebound upwards and hovering around 1.3260.
Technically, the 14-day momentum indicator is trying to obtain a positive signal that might push the pair to retest the pivotal resistance 1.3300 before starting to decline again.
The temporary bullish bias does not contradict the bearish trend movements within the bearish price channel, with official targets being around 1.3130 and 1.3090 as soon as they breach below the 1.3180 support level. In general, the trend is bearish as long as trading is stable below 1.3330.
| S1: 1.3190 | R1: 1.3300 |
| S2: 1.3130 | R2: 1.3340 |
| S3: 1.3090 | R3: 13410 |
