Waiting for the pound at 1.3691

20.09.2021

Daily chart: bears are fixing in the lower Bollinger envelope, so today we can expect the lower border of the envelopes to be revised in the 1.3691 zone. There is no ADX trending potential, so a break below is an unlikely event.

Н4: the lower local Bollinger envelope was broken twice, and here, as we can see, bearish potential is present. Therefore, we can expect a decrease in quotations by another 40 points to support 1.3691.

Н1: the hourly chart also shows trendy bearish pressure on the pair, which makes the downtrend forecast almost unambiguous. But we do not forget that the potential for decline is limited.

Conclusions: decline to 1.3691, then upward reversal.
Trading decisions:
1. Sales to 1.3691.
2. Buying from 1.3691.