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Wait for a bounce from the upper trendline to pick a sell.

Wait for a bounce from the upper trendline to pick a sell. | 15 November 2019

15 November 2019, GBP/USD

Wait for a bounce from the upper trendline to pick a sell.

Technical Observation

GBPUSD is currently rallying between a falling channel formation. We expect the upward rally which began yesterday to continue to the upperside but should not go beyond the upper trendline. In case the price successfully break and close above this trend line, then I will be expecting a move towards the swing high 1.3021. A bounce from the upper trendline will mean we are heading to the lowerside towards 23.6 fib level, and a break below this fib level will push the price even lower towards 50.0% fib level.

Trade Recommendations:

Wait for a bounce from the upper trendline to pick a sell.

TRADE FUEL WITHOUT SWAPS!

Imelda Maseno
Analyst of «FreshForex» company
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