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14.09.2021 09:06 AM
Technical Analysis of GBP/USD for September 14, 2021

Technical Market Outlook

The GBP/USD pair has been seen approaching the supply zone again. The zone is still located between the levels of 1.3874 - 1.3886 and after a bounce from the level of 1.3807 the market is trading currently at the level of 1.3861 already. The momentum is positive and the market conditions are not yet overbought, so bulls might have a shot to test the supply zone soon. The intraday technical support is seen at 1.3822 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).

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