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Sell a bounce from the upper trendline.

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
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