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Resell GBPUSD from 1.25200-1.23640

Resell GBPUSD from 1.25200-1.23640 | 06 August 2019

06 August 2019, GBP/USD

Resell GBPUSD from 1.25200-1.23640

Technical Observation

GBPUSD is currently trading with an increasing bearish bias momentum. While the price remains below the zone 1.25200-1.23640, I expect a possible decline further and may break below 1.20520 towards 1.200 or even lower. The idea is to wait for retracements back to the upperside to pick a low risk sell order from within the turncoat resistance zone started above. This view can only be invalidated in case the price breaks above 1.25200, if this is true, then we expect a momentum even further higher.

Trade Signal.

Resell GBPUSD from 1.25200-1.23640

Imelda Maseno
Analyst of «FreshForex» company
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