The Pound is Trying to Consolidate

The British Pound’s movements witnessed stable sideways trading between 1.3250 support level and 1.3260 resistance level within attempts to recover but still limited.

On the technical side today, and carefully looking at the 60-minute chart, we find that the RSI is trying to get bullish momentum, in addition to stabilizing intraday trading above the minor support level 1.3250.

We may witness a slight bullish bias in the coming hours to retest 1.3350/1.3340, and gains may extend to visit 1.3380 before falling again.

 Note: the bullish bias on the short time frames does not contradict the general bearish trend, whose official targets are around 1.3210 and 1.3160 ​​target price stations.

Rising again above 1.3380 will postpone the downside idea but not cancel it, and we may witness a positive trading session targeting 1.3430.

S1: 1.3250	R1: 1.3340
S2: 1.3210	R2: 1.3390
S3: 1.3160	R3: 1.3430