The Pound Touching Goals And Negative Pressure Continues

Negative trading dominated the movements of the pound sterling against the US dollar within the expected bearish context, touching the first target 1.4070 and heading towards the second target 1.4030, to record its lowest level at 1.3434.

On the technical side today, and by looking at the 4-hour chart, we find the simple moving averages continuing the negative pressure on the price, accompanied by the stability of the intraday trading below 1.4120.

This encourages us to keep our negative outlook, with the first target of 1.4070, and then 1.3990 next stop. Only from the top, to cross up and rise again above 1.4120/1.4140 will postpone the chances of a rise, and we will witness a bullish slope targeting 1.4180 before attempts to decline again.

S1: 1.4070	R1: 1.4140
S2: 1.3990	R2: 1.4180
S3: 1.3945	R3: 1.4230