The Pound Touches The Desired Target

The British pound jumped against the US dollar as we expected, touching the official target station during the previous analysis at 1.4200, recording a high of 1.4242.

On the technical side today, we tend to be positive, depending on the stability of the intraday trading above the previously breached resistance, now converted to the 1.4100 support level, in addition to the pair continuing to get a positive motive from the 50-day simple moving average.

Note: Stochastic is trading with an intraday negative, which may push the pair to retest 1.4100 and may extend to 1.4065 before rising again.

S1: 1.4065	R1: 1.4250
S2: 1.3965	R2: 1.4340
S3: 1.3875	R3: 1.4440