Noor Trends News, Technical Analysis, Educational Tools and Recommendations
As expected, the British pound managed to maintain its gains against the US dollar, relying on confirming the breach of the 1.3720 resistance, heading towards touching the first goal around 1.3770, recording its highest level during the early trading of the current session 1.3774.
Technically, and with the pair’s success in stabilizing above 1.3720, it has now turned into a support level, in addition to the pair getting positive stimulus from the 50-day moving average, which continues to support the bullish daily curve.
Therefore, the bullish scenario remains valid and effective, complementing the official target of the current ascending wave 1.3800/1.3790, knowing that the breach of 1.3800 will extend the pair’s gains towards 1.3820 and 1.3840.
Activating the bullish suggestion above depends on the stability of the intraday trading above 1.3720 and, in general, above 1.3675.
| S1: 1.3720 | R1: 1.3790 |
| S2: 1.3665 | R2: 1.3820 |
| S3: 1.3610 | R3: 1.3860 |
