The Pound Confirms the Break

A strong bearish trend dominated the movements of the pound sterling against the US dollar within the expected negative outlook, touching the official target station 1.3810, recording its lowest level at 1.3813.

On the technical side, looking at the 240-minute chart, we find that there are signs of the emergence of a bearish technical structure, in addition to the pair’s continuing negative pressure from the 50-day moving average.

From here, the bearish scenario will remain valid and effective, knowing that breaking 1.3810 will extend the pair’s losses, opening the way to visit 1.3775 and 1.3745, initial targets that may extend later to 1.3690. Thus, activating the bearish scenario depends on the stability of trading below 1.3890/1.3900.

S1: 1.3815	R1: 1.3885
S2: 1.3775	R2: 1.3920
S3: 1.3745	R3: 1.3965