Noor Trends News, Technical Analysis, Educational Tools and Recommendations
During the previous trading session, the British pound showed attempts to consolidate against the US dollar, building on the 1.3500 support.
On the technical side today, and with careful consideration on the chart, a 4-hour interval, we find positive attempts by stochastic to get additional momentum, and we find the 50-day moving average that supports the possibility of a rise and meets around the 1.3500 level and adds more strength to it.
There may be a possibility to rise to visit 1.3580, an initial station, and its next targets may extend towards 1.3610, an official price station, as long as the price is stable above 1.3520 and most importantly 1.3500.
The decline below 1.3480 and the price stability below it may negatively influence the pair to visit 1.3430.
| S1: 1.3520 | R1: 1.3580 |
| S2: 1.3480 | R2: 1.3610 |
| S3: 1.3430 | R3: 1.3650 |
