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GBPUSD. Sell a break below 1.24280.

GBPUSD. Sell a break below 1.24280. | 24 July 2019

24 July 2019, GBP/USD

Wave Analysis

The cable is currently trading within a declining channel formation, as it is on the hourly chart, we're waiting for a bounce from the upper trendline to look for a long term sell orders towards 1.24090. As it is on the hourly chart attached, a break below 1.24280 will offer an ideal place for conservative traders to look for long term sell orders. On the flipside, should price breakout above the upper trendline, then we'll expect further momentum to the upperside towards 1.24607 and may breakout higher towards 1.25132.

Trade Recommendations:

Sell a break below 1.24280.

Bob Stan
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