The British Pound Retests Support

The British pound advanced against the US dollar, touching targets at 1.3820, recording its highest levels at 1.3833.

Technically, and by looking at the 4-hour chart, we notice some clear negative signs on the stochastic as a result of reaching the overbought intraday areas.

Therefore, we may witness a bearish bias in the coming hours, targeting a retest of 1.3740 before trying to rise again, knowing that the bearish bias does not contradict the daily bullish trend, whose initial targets are around 1.3900 once the 1.3840 resistance level is breached.

S1: 1.3745	R1: 13855
S2: 1.3675	R2: 1.3900
S3: 1.3620	R3: 1.3965