The Pound Touches Goals

The British pound managed to achieve the first target to be touched at 1.3745, recording its lowest level at 1.3742.

Technically, and by looking at the 4-hour chart, we find the simple moving averages continuing their negative pressure on the price from above, and this comes in conjunction with the clear negative signs on the stochastic indicator.

Therefore, with the continuation and stability of trading below 1.3830, the bearish bias remains the most likely today, targeting 1.3745, and then 1.3700 awaited official station, whose targets may extend later to visit 1.3660.

From above, confirmation of breaching 1.3830 will postpone the chances of a decline, and we may witness a bullish bias that aims to retest 1.3890, 61.80% correction, before descending again.

S1: 1.3745	R1: 1.3830
S2: 1.3700	R2: 1.3880
S3: 1.3660	R3: 1.3920