The British Pound Continues to Decline And Negativity Remains

The British pound continues to give up its gains against the US dollar, achieving strong losses, to start the morning’s trading on a bearish slope, recording its lowest level at 1.3895.

On the technical side today, we believe that the pair will continue its bearish movement, relying on confirming the breach of 1.3970, in addition to the pair’s continuing negative pressure from the simple moving averages.

Therefore, the bearish scenario will remain valid and effective, targeting 1.3855 first target, and breaking it will extend the pair’s losses, so we will be waiting for 1.3810, an official awaited station.

Trading above 1.3970 postpones the chances of a decline but does not cancel them, and we may witness limited attempts to recover, targeting 1.4030.

S1: 1.3855	R1: 1.3970
S2: 1.3810	R2: 1.4045
S3: 1.3750	R3: 1.4090