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Look for sell orders towards 1.22281.

Look for sell orders towards 1.22281. | 28 August 2019

28 August 2019, GBP/USD

Look for sell orders towards 1.22281.

Technical Observation

Yesterday, GBPUSD attempted a break above the daily high of 1.22940 but failed to close above it. Following the bounce from this level, I expect a possible rally to the lowerside towards the 50.0% fib level, 1.21544. A break below this level will push the price even lower. On its way downwards, the key levels I'm focusing on include 1.22281 and 1.21874. If these lines are broken, then a rally even lower is expected. On the bullish side, should price break above 1.22940, then this will be a place to look for buy orders.

Trade Recommendations:

Look for sell orders towards 1.22281.

Imelda Maseno
Analyst of «FreshForex» company
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