Technicals of Pound Unchanged

The technical outlook is unchanged, and the pound sterling has not witnessed any change, maintaining negative stability below 1.3770 / 1.3780.

On the technical side, the current movements are witnessing a slight upward bias as a result of holding above 1.3700, but the 50-day moving average remains a hindrance in front of the pair, in addition to continuing trading below the previously broken support-into-resistance at 1.3780.

From here, we will maintain our negative outlook, knowing that trading below 1.3700 facilitates the task required to visit 1.3685/1.3675, a first target, and then 1.3625 an official next stop.

A reminder that trading stability once again above 1.3770 and the most important 1.3790 level is able to thwart the continuation of the bearish trend, and the pair will recover again with the first target of 1.3840 and may extend later towards 1.3870.

S1: 1.3685	R1: 1.3790
S2: 1.3625	R2: 1.3840
S3: 1.3575	R3: 1.3885