25 November 2019, GBP/USD
Technical Observation
GBPUSD is currently trading within a contracting wedge formation. While the price is contained within this shape formation, we are waiting for a bounce from the upper trendline to pick a sell and a bounce from the lower trend line to pick a sell. If the price breaks above the upper trendline, then this will give us an ideal place to pick a long term buy order, and should the price break below the supportive trendline, then this will give us an ideal place to consider a long term sell order towards 1.21935 and could breakout lower.
Trade Recommendations:
Sell a bounce from the upper trendline.