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The British Pound found a strong resistance level around the first resistance level posted in the previous analysis, at 1.3800, which forced it to trade negatively again.
On the technical side, and by looking at the 4-hour chart, we find the 50-day moving average holding the price from below and meeting near the strong support level 1.3680, in addition to entering the stochastic indicator around the oversold areas.
Therefore, the bullish bias is the most preferred today, targeting 1.3780/1.3800, knowing that the confirmation of the last breach is a catalyst that enhances the chances of a rise towards 1.3840.
Activating the long positions depends on the price stability above 1.3680, and breaking it will activate the bullish scenario and put the pair under negative pressure, with its initial target of 1.3645 and 1.3600 as a next station.
| S1: 1.3680 | R1: 1.3800 |
| S2: 1.3645 | R2: 1.3840 |
| S3: 1.3600 | R3: 1.3900 |
