The Cable Tends to the Downside

Mixed trading dominated the movements of the pound sterling against the US dollar within an upward trend. On the technical side, we tend in our trading to the negative, but with caution, relying on the negative pressure coming from the 50-day moving average, which meets around 1.3740/1.3745, in addition to the clear negative signs on the RSI on the short time frames.

Therefore, the bearish bias is likely today, provided that 1.3700/1.3690 is confirmed, increasing the negative pressure on the pair so that the way is directly open to visit 1.3665 and 1.3610, respectively.

From above, price stability above 1.3745/1.3750 will postpone the chances of a decline and increase the possibility of the upside with an initial target of 1.3780 and extending towards 1.3810. 

Note: The level of risk is high

S1: 1.3690	R1: 1.3745
S2: 1.3660	R2: 1.3810
S3: 1.3605	R3: 1.3885