The fall of the pound will continue

30.09.2021

Daily chart: the second consecutive breakdown of the lower Bollinger envelope, plus a substantial bearish trend potential of the ADX – all these are obvious signals that the British pound quotes will continue to fall in the direction of 1.3300.

Н4: the nearest local dynamic support level is in the 1.3384 zone (lower Bollinger line). But, probably, it will be successfully broken by sellers.

Н1: the intraday lower Bollinger band is still slightly lower – at the level of 1.3377. Generally, everything looks like the preparation of the market for the continuation of the development of the downward wave. Potential sales zone is 1.3471.

Conclusions: a rollback to 1.3471, then a decline to 1.3377, with an eye on 1.3300.
Trading decisions: sales from the 1.3471 zone to 1.3377 and 1.3300.