Sell a bounce from the upper trendline. | 25 November 2019
25 November 2019, GBP/USD
Technical Observation
GBPUSD is currently trading within a contracting wedge formation. While the price is contained within this shape formation, we are waiting for a bounce from the upper trendline to pick a sell and a bounce from the lower trend line to pick a sell. If the price breaks above the upper trendline, then this will give us an ideal place to pick a long term buy order, and should the price break below the supportive trendline, then this will give us an ideal place to consider a long term sell order towards 1.21935 and could breakout lower.
Trade Recommendations:
Sell a bounce from the upper 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.
