Forex Technical Analysis: Trend potential – Look for a sell towards 1.21509

GBPUSD – Flat

Look for sell towards 1.21509

Technical Observation

GBPUSD is currently trading with an increasing bearish bias momentum. While the price is protected from violating the level 1.27413, I expect a drop towards 1.21509. On this chart, the key lines to look for include 1.32965, 1.27413, 1.21509 and 1.23695. Anytime the price approached any of this lines, I expect nothing but a steep fall. If you’re not in any sell positions As we speak, we’re waiting for a long term sell towards 1.27509, a breakout below this level will push the price even lower.

Trade signal,

Look for a sell towards 1.21509

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