{"id":35057,"date":"2020-10-07T10:42:49","date_gmt":"2020-10-07T06:42:49","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=35057"},"modified":"2020-10-07T10:45:06","modified_gmt":"2020-10-07T06:45:06","slug":"pound-breaks-through-support-and-may-extend-losses","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/pound-breaks-through-support-and-may-extend-losses\/10\/07\/tech-analysis\/","title":{"rendered":"Pound Breaks Through Support And May Extend Losses"},"content":{"rendered":"\n<p>Negative trading dominated the British pound against the US dollar after it failed to breach the psychological barrier of 1.3000, &nbsp;we have indicated that a breach of that resistance is a prerequisite for the continuation of the buying position, explaining that the price remains below 1.2920 nullifies the bullish scenario and puts the price under negative pressure to target a re-test Pivotal support 1.2860, recording a low of 1.2862.<\/p>\n\n\n\n<p>Technically, with the pair&#8217;s success in breaking critical support of 1.2930 \/ 1.2925 accompanied by the negative pressure of the 50-day moving average, the bearish bias will likely be targeting 1.2840 as a primary target, noting that breaking the latter extends the pair&#8217;s losses to 1.2780 and may extend to 1.2740.<\/p>\n\n\n\n<p>From the upside, remaining above 1.3000 cancels the downside, and the pair heads back towards 1.3065<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S1:\u00a0<strong><strong>1.2840\u00a0<\/strong><\/strong><\/strong><\/td><td><strong>R1: <strong><strong>1.2980\u00a0<\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S2:<\/strong>\u00a0<strong><strong><strong>1.2780\u00a0\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/td><td><strong>R2:<\/strong>\u00a0<strong><strong><strong>1.3065\u00a0<\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S3:\u00a0<strong><strong>1.2695\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/td><td><strong>R3: <strong>1.3125 &nbsp;&nbsp;<\/strong><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Negative trading dominated the British pound against the US dollar after it failed to breach the psychological barrier of 1.3000, &nbsp;we have indicated that a breach of that resistance is a prerequisite for the continuation of the buying position, explaining that the price remains below 1.2920 nullifies the bullish scenario and puts the price under &hellip;<\/p>\n","protected":false},"author":9,"featured_media":35066,"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":[7222,6870,6908,7227],"class_list":["post-35057","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-analysis","tag-gbp","tag-pound","tag-technical"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35057","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=35057"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35057\/revisions"}],"predecessor-version":[{"id":35068,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35057\/revisions\/35068"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/35066"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=35057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=35057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=35057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}