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Sell a bounce from the upper trendline

Sell a bounce from the upper trendline | 11 July 2019

11 July 2019, GBP/USD

Sell a bounce from the upper trendline

Technical Observation

GBPUSD pulled back to the upperside and is currently bouncing off of a key resistance trendline. While the price is below this trendline, I expect a possible decline even further to the lowerside. A breakout above this trendine will mean we're looking for a long term buy towards 1.2600. And on the lowerside, should price breakout below 1.2495, then this will be an ideal place to look for sell orders towards 1.2450 or even lower. A break below this level will push the price even further low towards 1.23.

Trade Signal.

Sell a bounce from the upper trendline

Imelda Maseno
Analyst of «FreshForex» company
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