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Wait | 22 September 2021

22 September 2021, GBP/USD

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Technical observation

On the weekly chart above, price is trading with an increasing bearish bias within a supportive zone it established at 1.3661-1.3599, my expectation is a loss of this bearish rally within the same for a surge to the upper side, or a clear penetration below the same zone with a big red candle for a plunge to the lower side. As it is on the chart above, place a pending buy limit order right now within the zone 1.3661-1.3599 with your take profit at 1.4615 and stop loss at 1.3344, however, if you are a bot skeptic to do so, wait for a loss of the bearish movement within the zone then pick long positions. I can only recommend short positions below the zone 1.3661-1.3599.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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