The Pound Based on Support

Positive transactions dominated the movements of the pound sterling against the US dollar within the expected bullish path, touching our first target at 1.3785, recording the highest level at 1.3780.

On the technical side, the pair succeeded in building a base of 1.3700 support, accompanied by the clear positive signs on stochastic on the 4-hour time frame.

Therefore, the bullish scenario will remain the most preferred today, provided that the breach of 1.3800 is confirmed, targeting 1.3840 and 1.3900 next official station.

Stability of trading above 1.3700 is an essential and fundamental condition to maintain the bullish context, and breaking it puts the price under negative pressure that targets a retest of 1.3600.

S1: 1.3700	R1: 1.3800
S2: 1.3640	R2: 1.3840
S3: 1.3600	R3: 1.3900