The British Pound Tends to Decline Intraday

The British pound retested support of 1.3740 to return to the bullish rebound against its American counterpart, and the current moves are witnessing stability above the psychological barrier level of 1.3800.

On the technical side, the daily trend is still bullish. Still, we tend to the intraday negativity due to the stability of trading below 1.3830 and stochastic losing the bullish momentum gradually, which may increase the possibility of witnessing a bearish bias in the coming hours before attempts rise again.

We aim to retest 1.3750/1.3740, an initial target, before attempts to rise again. The return of stability above 1.3830 paves the road to 1.3900.

S1: 1.3755	R1: 13855
S2: 1.3700	R2: 1.3900
S3: 1.3665	R3: 1.3940