Source: PaxForex Premium Analytics Portal, Technical Insight
The Sterling is moderately higher on Tuesday, favored by a somewhat weaker Yen, which suffers when US Treasury yields rise and the upbeat UK manufacturing figures.
Pivot: 190.65
Analysis:
As long as the price is above 188.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 190.65
- Take profit 1: 194.00
- Take Profit 2: 196.00
Alternative scenario:
If the level of 188.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 188.00
- Take profit 1: 186.00
- Take profit 2: 184.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 198.00 | 188.00 |
| 196.00 | 186.00 |
| 194.00 | 184.00 |
