Forex Technical Analysis: Trend potential – Wait to rebuy GBPUSD from 1.25904.

GBPUSD – Flat

Sell a break below 1.27997 with your take profit at 1.25904.

Technical Observation

The opening of today;s candle has seen GBP gain value tremendously and is currently almost approaching the daily high, 1.29867. I’m expecting a breakout above this level to push price even higher towards 1.30395. And should price, instead of continuing to the upper side, move down and break below 1.27997, then this will mean sellers are in control, therefore, we’ll be looking for long term sell orders towards 50.0% fib level and could breakout even lower towards 1.23812.

Trade Recommendations:

Wait to rebuy GBPUSD from 1.25904.

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