GBP/USD DAILY CHART TECHNICAL ANALYSIS
Previously the GBP/USD s rally was approaching longer-term downtrend resistance – “From at trading standpoint, a good zone to reduce long-exposure / raise protective stops- be on the lookout for topside exhaustion / possible inflection into the upper parallel for guidance early in the month with a close above 1.3890 ultimately needed to keep the long-bias viable.” Sterling registered an intraday high at 1.3913 last week before reversing sharply lower with a break of the September opening-range lows shifting the focus towards a critical support confluence just lower. Note that the British Pound has been in consolidation above the July lows with price now approaching key support at the July low-day close / 2021 yearly open at 1.3625/46- look for a reaction there IF reached with a break / close below needed to keep the short-bias viable in the days ahead.
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