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Wait | 13 September 2021

13 September 2021, GBP/USD

Technical observation

Just like EUR, GBP is trading with an increasing bearish momentum above a supportive zone 1.3661-1.3599, this bearish movement is a retracement to the zone I have mentioned above and I expect a rejection within it to pick long positions with my take profit at 1.4615 and stop loss at 1.3355. If price is not sustained above the zone 1.3661-1.3599 and instead it plunges below it with a big red candle, I expect a surge to the lower supportive level 1.2565 after a retracement to the just broken zone. My advice, remain flat and wait for a correction to the zone 1.3661-1.3599 to buy GBP with your take profit at 1.4615.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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