Waiting for a correction to buy GBP | 17 September 2021
17 September 2021, GBP/USD
Technical observation
Last week the value of the pair on then chart above rallied to the lower side and this week there is still a continuation of this bearish movement towards the supportive zone it established at 1.3661-1.3599. I expect price to plunge further to the zone I have mentioned above followed by either a bounce within it or a clear break below it with a big red candle. My advice, remain neutral temporarily and buy a bounce within the zone 1.3661-1.3599 with your take profit at 1.4615 and stop loss at 1.3344. In case of a clear breach below the same zone, wait for a retracement to it and sell a bounce within it with your take profit at 1.2565.
Technical observation
Remain neutral temporarily.
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.
