empty
 
 
15.09.2021 08:25 AM
Technical Analysis of GBP/USD for September 15, 2021

Technical Market Outlook

Despite the new local high at the level of 1.3912, the GBP/USD pair has been rejected for the third time from the supply zone and the Bearish Engulfing candlestick pattern was made at the end of the up move. The zone is still located between the levels of 1.3874 - 1.3886 and after a bounce from the level of 1.3791 the market is trading currently at the level of 1.3819 already. The intraday technical support is seen at 1.3785 and 1.3807.

Weekly Pivot Points:

WR3 - 1.4068

WR2 - 1.3979

WR1 - 1.3915

Weekly Pivot - 1.3815

WS1 - 1.3755

WS2 - 1.3649

WS3 - 1.3586

Trading Outlook:

The weekly time frame chart still shows, that the up trend is still intact and the corrective wave had terminated at the level of 1.3571. Only a sustained violation of the level of 1.3518 would trigger a bigger down move than a regular pull-back. The up trend can be continued towards the next long-term target located at the level of 1.4246 (high from 24.02.2021).

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback