Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound achieved the first bearish target published during the last analysis, located at 1.3590, recording its lowest level during the previous session’s trading of 1.3573.
The technical side today indicates the possibility of continuing the decline. The 50-day moving average is still an obstacle, in addition to the stability of trading below the 1.3600 supply area.
Therefore, we may witness more decline to visit 1.3560, an initial target, knowing that the official target for today’s session is near 1.3520, as long as the price is stable below 1.3600, and most importantly 1.3610. Trading stability above 1.3610 may postpone the chances of a decline and lead the pair to retest 1.3650.
Warning: CFD trading involves risks; all scenarios may occur.
| S1: 1.3560 | R1: 1.3650 |
| S2: 1.3525 | R2: 1.3700 |
| S3: 1.3475 | R3: 1.3740 |
