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.
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.
