23 Mei 2019, GBP/USD
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.