The Pound Sterling Touches Goal

The British pound maintained its gains against the US dollar within the expected positive outlook, touching the official target at 1.3720 to record a high of 1.3735.

Technically, the current movements witnessed a slight bearish tendency, as a result of hitting the resistance level published yesterday at 1.3735, which forced the pair to trade with intraday negativity to retest 1.3665; by looking at the 240-minutes chart, we note that the pair obtained positive crossover signals from stochastic In addition to the positive motive for the 50-day moving average.

We maintained our positive outlook and provided a break of 1.3720, a catalyst that paves the way for 1.3770 and 1.3800 awaited targets.

The price stability above 1.3645/1.3660 is an essential condition for the continuation of the upside, trading below 1.3645 postpones the suggested scenario, and we will witness a retest of 1.3600, it may extend to 1.3570 before rising again.

S1: 1.3645	R1: 1.3720
S2: 1.3600	R2: 1.3770
S3: 1.3570	R3: 1.3805