GBP makes instant gains 6/9/2022

Remarkable positive trading dominated the movements of the pound sterling against the US dollar, attacking the resistance level 1.1660, recording the highest level of 1.1570 during the early trading of the current session.

Technically, with the intraday trading stability above 1.1540, accompanied by the RSI obtaining positive momentum signals, this increases the possibility of a temporary bullish bias in the coming hours, targeting retesting 1.1670 before starting the decline again.

It should be noted that the return of the stability of trading again below 1.1470 leads the pair to the general bearish track, so we are waiting for a visit to 1.1380, and losses may extend later towards 1.1330.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.1475	R1: 1.1630
S2: 1.1380	R2: 1.1690
S3: 1.1320	R3: 1.1780