Sell GBPUSD towards 1.21509. | 23 May 2019

23 May 2019, GBP/USD

Look for sell towards 1.21509

Technical Observation

GBPUSD is still in an active downtrend. While the price is still protected from rising above 1.27413, I expect a steep decline towards the next weekly support line 1.21509. I took a sell during the previous trading day and is still holding onto a sellers perspective. On the weekly chart attached, I'm waiting for a retracement back towards 1.27413 to pick a low risk sell position towards 1.21509. You could wait for a break below the level 1.25970 to pick a low risk sell order towards 1.21509.

Trade Signal.

Sell GBPUSD towards 1.21509.

Imelda Maseno
Analyst of «FreshForex» company
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