Bearish towards 1.2626 | 23 September 2020

23 September 2020, GBP/USD

Bearish towards 1.2626

Technical observation

Following its rejection within the resistance zone 1.3006-1.2970, GBP has been declining steadily and is currently rallying above a supportive level 1.2626 with an increasing bearish bias. I expect this downwards movement to continue to the support 1.2626 followed by either a clear breakout below it with a big red candle and a correction to it for a further decline in price towards the support 1.2226, or a bounce at the line followed by another correction to the above mentioned zone to resell GBP. My advice, if you sold GBP within the zone 1.3006-1.2970 after a bounce remain so and pick your profits at 1.2626.

Trade recommendation

Remain short and pick your profits at 1.2626.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus