We're looking for a sell towards 1.23640. | 26 July 2019

26 July 2019, GBP/USD

We're looking for a sell towards 1.23640.

Technical Observation

GBPUSD is currently trading with an increasing bearish bias momentum. While the price is contained below the two simple moving averages attached, I expect a steep decline towards 1.23640 or even lower. While the price is within the declining shape formation, I recommend looking for long term sell orders. But in case the price breaks above 1.25990, then we'll wait for another breakout above the simple moving averages to confirm that the trend has reversed, that we're heading upwards.

Trade Recommendations:

We're looking for a sell towards 1.23640.

Imelda Maseno
Analyst of «FreshForex» company
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