GBP/USD Market Activity Holds around 1.3700

British Pound Price Prediction – September 28
The GBP/USD market activity holds positions around the level of 1.3700 while a line of striving efforts to swing up for a recovery. As of writing, the fiat currency pair trades around 1.3673 at a percentage estimate of about -0.13. That indicates the possibility that the market is merely not being far from a falling pressure.

GBP/USD Market
Key Levels:
Resistance levels: 1.3800, 1.3900, 1.4000
Support levels: 1.3600, 1.3500, 1.3400

GBP/USD – Daily Chart
It is pictured on the GBP/USD daily chart that the fiat-currency pair market activity holds around the line of 1.3700. Initially, the market traded around 1.3600 before the emergence of a bullish candlestick on the September 23rd session that propelled it to that higher trading level. The 14-day SMA indicator is underneath the 50-day SMA indicator. And, the bearish trend line drew between them, serving as a resistance backup to the smaller SMA. The Stochastic Oscillators have closed the lines at range 40. That could mean that price may still hold around its current trading zone for a while.
As GBP/USD market activity holds around 1.3700, will there be a reversal motion to break past the 1.3600 level?
The market level at 1.3600 happens to serve as the critical support level that, if price breaches downward, may not sustain it for long. Now that the GBP/USD market activity holds around the 1.3700 level, buyers may have to watch out for active price action that could result from a rallying motion when the market might have pushed down toward or around the level of the smaller value-line mentioned above.

On the downside, it appears that the GBP/USD market bears still have the opportunity to re-depress the currency pair around the trend line of the smaller SMA. Traders needed to adhere to the cognizance of the Stochastic Oscillators’ positioning outlook in their predetermination of the subsequent market’s direction.

Summarily, It seems that the GBP/USD market may still push slightly for more downs, averaging the 1.3600 or better still for a retest so that bulls may have to rejuvenate their presence. A fearful downward breaching of the value line may potentially cause a bears’ trap trading situation afterward.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart reveals that the currency pair market activity holds briefly beneath the level of 1.3700. The 14-day SMA trend line is around the value line underneath the 50-day SMA trend line. A 4-hour bearish candlestick appeared against the smaller SMA, leading the market to trade southward. The Stochastic Oscillators keep a southbound-slanting posture from the overbought region across variant lower range lines until it reaches range 40. And, yet, they still somewhat point to the south around the range line. That suggests that some degrees of sell-offs may still play out for a while afterward.

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