Sell GBPUSD with your take profit at 1.2915. | 06 January 2020
06 January 2020, GBP/USD
Technical Observation
GBPUSD is in and active downtrend. We went short following the bounce from the upper trend line and is still holding, our expectations is that the price should continue to the lower side after breaking below 1.3092. While the price is contained below this level, we recommend looking for long term sell orders with an ideal target at 1.2916. A break below this level could push the price much lower towards 1.28. This bearish price rally is supported by the fact that the Alligator trend indicator is above price. We recommend looking for short positions.
Trade Recommendations:
Sell GBPUSD with your take profit at 1.2915.
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.
