12 Agustus 2019, GBP/USD
Technical Observation
Technically, GBPUSD is in an active downtrend. What we're looking at on this chart include the daily low, 1.20219 and the 50% fib level or 1.22026. During today and possibly tomorrow, we expect price to remain within a range, not going above 76% fib level, 1.21072 or below 1.20219. A break below 1.20219 may push price massively to the lowerside towards 1.2000 while a break above 76.4 Fib level could push price massively to the upperside but should be contained by the 50% fib level.
Trade Signal.
Sell a break below 1.20219.