Negative trading saw the pound move against the US dollar after a positive session that saw it reach a high around the psychological barrier of 1.3600.<\/p>\n\n\n\n
Technical Outlook \u2013 4-Hour Timeframe:<\/strong><\/p>\n\n\n\n The simple moving averages are forming a resistance level, putting downward pressure on the price due to a bearish crossover. This, coupled with a relatively steep break of an ascending trend line, could strengthen the likelihood of further declines.<\/p>\n\n\n\n Likely Scenario:<\/strong><\/p>\n\n\n\n As long as the price remains below the 1.3540<\/strong> resistance level, the bearish bias is more likely for the day, targeting 1.3430<\/strong> as an initial target. A break below 1.3430<\/strong> would further accelerate the downward trend toward 1.3380<\/strong>.<\/p>\n\n\n\n Conversely, a return to trading above 1.3570<\/strong> would renew the chances of a return to the upward trend, targeting 1.3650<\/strong>.<\/p>\n\n\n\n Caution:<\/strong> The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.<\/p>\n\n\n\n Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.<\/p>\n\n\n\n Negative trading saw the pound move against the US dollar after a positive session that saw it reach a high around the psychological barrier of 1.3600. Technical Outlook \u2013 4-Hour Timeframe: The simple moving averages are forming a resistance level, putting downward pressure on the price due to a bearish crossover. This, coupled with a …<\/p>\n","protected":false},"author":9,"featured_media":125989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[7770,7046],"class_list":["post-125980","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-fomc-minutes","tag-sterling"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/125980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=125980"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/125980\/revisions"}],"predecessor-version":[{"id":125990,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/125980\/revisions\/125990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/125989"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=125980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=125980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=125980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}S1: 1.3430<\/strong><\/td> R1: 1.3570<\/strong><\/td><\/tr> S2:\u00a01.3380<\/strong><\/td> R2: 1.3650<\/strong><\/td><\/tr> S3: 1.3295<\/strong><\/td> R3:\u00a01.3710<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"