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Sell a break below 1.20219.

Sell a break below 1.20219. | 12 August 2019

12 August 2019, GBP/USD

Technical Observation

Technically, GBPUSD is in an active downtrend. What we're looking at on this chart include the daily low, 1.20219 and the 50% fib level or 1.22026. During today and possibly tomorrow, we expect price to remain within a range, not going above 76% fib level, 1.21072 or below 1.20219. A break below 1.20219 may push price massively to the lowerside towards 1.2000 while a break above 76.4 Fib level could push price massively to the upperside but should be contained by the 50% fib level.

Trade Signal.

Sell a break below 1.20219.

Imelda Maseno
Analyst of «FreshForex» company
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