Remain short towards 1.21600. | 27 August 2019
27 August 2019, GBP/USD
Technical Observation
Perfectly as we explained in the previous forecast, GBPUSD bounced off from the verified resistance level 1.22920. This level has only been tested once, and while the price is protected from breaking it to the upperside, we're looking for low risk sell orders towards the turncoat support zone 1.21600-1.21785. A breakout below this support will push the price massively to the lowerside towards the verified support zone 1.20460-1.20650. A bounce from the turncoat support level will mean looking for buy orders.
Trade Recommendations:
Remain short towards 1.21600.
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.
