Wait | 13 September 2021
13 September 2021, GBP/USD
Technical observation
Just like EUR, GBP is trading with an increasing bearish momentum above a supportive zone 1.3661-1.3599, this bearish movement is a retracement to the zone I have mentioned above and I expect a rejection within it to pick long positions with my take profit at 1.4615 and stop loss at 1.3355. If price is not sustained above the zone 1.3661-1.3599 and instead it plunges below it with a big red candle, I expect a surge to the lower supportive level 1.2565 after a retracement to the just broken zone. My advice, remain flat and wait for a correction to the zone 1.3661-1.3599 to buy GBP with your take profit at 1.4615.
Trade recommendation
Remain flat.
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.
