The pound against the dollar rose strongly and managed to break several resistance levels and reached the 1.2260 resistance before correcting downward and testing the 1.2175 level as a support level. Affected by the negativity of the stochastic oscillator.
While the moving averages constitute a positive pressure factor.
Keeping trading above the support level 1.2175 is necessary to continue the bullish path and try to break the 1.2260 level and start a solid upward movement. Targeting the level of 1.2340 as a first target.
The expected trading range for today is between support 1.2000 and resistance 1.2100.