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Sell GBPUSD below 1.24494.

Sell GBPUSD below 1.24494. | 10 July 2019

10 July 2019, GBP/USD

Technical Observation

GBPUSD is trading within a contracting wedge formation. The overall trend on this pair is downwards, therefore, in case the price breaks below the level 1.24494, than I advise looking for sell orders towards 1.24250. On this chart, buying or holding on bulls perspective looks very risky and cannot be recommended. But in case the price breakouts above 1.24814, than a confirmation will be required to confirm that the price is in deed upwards , and that should be on a breakout above 1.25030.

Trade Recommendations:

Sell GBPUSD below 1.24494.

Imelda Maseno
Analyst of «FreshForex» company
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