We're bearish towards 1.2626 | 22 September 2020
22 September 2020, GBP/USD
Technical observation
On the daily chart above, GBP is rallying downwards towards a supportive line 1.2626. I expect either a rejection at the line or a break below it for a further decline towards the supportive zone 1.2226-1.2194. If you sold GBP within the resistance zone 1.3006-1.2970 after a bounce, remain short with your take profit at 1.2626 and stop loss at 1.3166. In case of a clear break below the line 1.2626 with a big red candle, continue short with this pair towards the supportive zone 1.2226-1.2194 after a correction to the just broken line. Bullish movements can only be anticipated in case of a clear break above 1.3006-1.2970.
Trade recommendation
We are short with our take profit at 1.2626.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
