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We're short towards the immediate trendline.

We're short towards the immediate trendline. | 27 September 2021

27 September 2021, GBP/USD

We're short towards the immediate trendline.

Wave Analysis

The British pound continues to rally below the resistance zone 1.43920-1.40313. As it is on the weekly chart attached, we are long term sellers towards the immediate trendline, if this trendline is broken, then further momentum to the lowerside is expected towards 1.20952, and may continue much higher towards 1.12440. If the price breaks above 1.43920, then further momentum to the upperside is expected with an ideal target set at 1.78860.

Trade Recommendations:

We're short towards the immediate trendline.

Bob Stan
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