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.