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Still in an up trend

Still in an up trend | 23 August 2018

23 August 2018, GBP/USD

Technical Observation

GBP is still above the two Simple Moving Averages, this is perfectly in line with what I expected. I'm waiting to rebuy GBP upon a bounce from 1.2825. With this buy position, I'll be for a rise towards 1.2815 and should breakout higher towards 1.3125 and may extend even higher. On the Contrary, should the price break below 1.27, then this will be an ideal place to look for a long term short position. On its way downwards, the key lines to check for is a break break below 1.2575, this will attract further move downwards.

Trade Signal

Still in an up trend

101% Double the volume

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Imelda Maseno
Analyst of «FreshForex» company
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