Sell a bounce from the upper trendline. | 25 November 2019

25 November 2019, GBP/USD

Sell a  bounce from the upper trendline.

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.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .