The Pound Attacks ResistanceAnd Confirming The Breach Extends The Gains

The technical outlook is as it is without any change, and the pair’s movements did not change much within a sideways bias, from below above 1.4110 and from above below 1.4215.

On the technical side today, and with careful consideration on the chart, we noticed the contradiction between the positive motive for the 50-day moving average, which supports the continuation of achieving gains, and the negative signs that started appearing on the stochastic indicator. Therefore, we will stand aside for the moment until the trend becomes clearer, to be in front of one of the following scenarios:

Continuing the bullish moves requires that we witness a clear and strong breach of the pivotal resistance level 1.4220, which increases the possibility of touching 1.4255, and then 1.4295 next station.

Activating short positions depends on breaking 1.4145, which opens the way to visit 1.4100, and then 1.4070 in principle.

S1: 1.4145	R1: 1.4220
S2: 1.4105	R2: 1.4255
S3: 1.4070	R3: 1.4295