We're sellers towards 1.2495. | 11 May 2023

11 May 2023, GBP/USD

We're sellers towards 1.2495.

On the British pound chart, as long as the price remains below the upper trendline, we are looking for nothing but a possible rally to the lowerside. The idea on this chart is to keep looking for low risk sell positions expecting a possible accelleration towards 1.2495 and may see the price rally much lower. On the flipside, should the price rebound from the upper level 1.2650. Then this will be a good place to consider a sell position.

Trade Recommendations:

We're sellers towards 1.2495.

Bob Stan
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