21 September 2021, GBP/USD
Technical observation
On the 4 hour chart above, GBP broke below a supportive zone 1.3788-1.3778 with a big red candle then declined steadily and penetrated below another supportive level it established at 1.3681, right now, price is trading with an increasing bullish momentum below the just broken level and I expect a continuation of this upwards movement to the same level followed by a bounce at it to pick short positions. My advice, remain neutral temporarily and sell a bounce at the level 1.3681 with your take profit at 1.3570 and stop loss at 1.3715. As long as GBP is contained below the level 1.3681, I can only recommend short positions for this pair.
Trade recommendation
Remain neutral temporarily.
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