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Wait | 28 September 2021

28 September 2021, GBP/USD

Technical observation

On the 4 hour chart above, GBP could not hit the resistance zone it established at 1.3752-1.3745; instead, it turned around slightly before hitting the zone and is currently rallying downwards. Right now as it is on the chart above, I expect a further move to the lower side, however there is still a possibility of another correction to the zone I have mentioned above. In case there is a retracement to the resistance zone 1.3752-1.3745, within it will be a good place to pick short positions with your take profit at 1.3615 and stop loss at 1.3793. At the moment I can only recommend you remain neutral temporarily with this pair.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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