Look for sell orders below the support trendline. | 02 August 2019
02 August 2019, GBP/USD
Technical Observation
GBPUSD is currently trading with an increasing bearish bias momentum. While the price is contained within the contracting wedge formation, we're looking for long term sell orders. Ideally, I'm waiting for a bounce from the upper trendline to look for long term sell orders towards 1.20725 or even lower. As it is, only sell positions looks much better and can be advised. But in case price breaks above the upper trendline, then this will be an ideal place to look for long term buy orders towards 1.22450.
Trade Signal
Look for sell orders below the support trendline.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
