Buy GBP within 1.3661-1.3599 | 27 September 2021

Technical observation

Last week GBP did not break below the supportive zone 1.3661-1.3599, instead it bounced within the same zone as I had anticipated and right now it is trading with an increasing bullish bias. As long as price is contained above the zone I have mentioned above, i expect a continuation of this bullish movement to the resistance line 1.4615 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the supportive zone 1.3661-1.3599. My advice, pick long positions right now within the zone 1.3661-1.3599 with your take profit at 1.4615 and stop loss at 1.3326.

Trade recommendation

Buy GBP within 1.3661-1.3599 with your take profit at 1.4615.