GBPUSD Analysis – Thursday, September 21

Photo by Thomas Coker on Unsplash

The GBP/USD pair has indeed extended its downside move from 1.2745 to as low as 1.2309, indicating a continued bearish momentum.

As long as the price remains below the falling trend line on the 4-hour chart, it is reasonable to anticipate the downside move to continue. The next target could potentially be around the 1.2200 area.

A key resistance level to watch is 1.2424. A break above this level would indicate a potential completion of the downside move and could trigger a push toward the next resistance at 1.2547.

Traders should closely monitor the price action and adjust their trading strategies accordingly, considering the prevailing downtrend. Any new developments or breakouts should be taken into account to reassess market conditions.


More By This Author:

EURUSD Analysis – Thursday, September 21
GBPUSD Analysis – Wednesday, September 20
USDCAD Analysis – Wednesday, September 20

Disclaimer: Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with