The Pound Towards Positive Side Again

The British pound started its weekly trading on a bullish bias, after finding a good support floor near 1.3660, to witness the current moves of the pair stabilizing above 1.3700.

On the technical side, we find the 50-day moving average that has returned to hold the price from below, and this comes in conjunction with the upcoming positive signals from the RSI on short time frames.

Thus, the bullish bias may be likely today, targeting 1.3750 / 1.3760, knowing that the breach of the aforementioned level will extend the pair’s gains, opening the way to visit 1.3790 / 1.3800, a next official station.

From below, the return of trading stability and price stability below 1.3675 will immediately stop the bullish scenario and put the price under negative pressure, its initial target of 1.3630 / 1.3310.

S1: 1.3675	R1: 1.3760
S2: 1.3630	R2: 1.3790
S3: 1.3595	R3: 1.3840