18 September 2019, GBP/USD
Technical Observation
for some days now, GBPUSD has been in an active up trend. However, after hitting the highs of 1.25180, GBPUSD is currently retracing to the lowerside but within a declining channel formation. While the price is contained within this shape formation, I'm looking for low risk sell orders with an ideal take profit levels around 1.24340 and 1.23927. If price breaks below the last take profit, 1.23927, then I'll expect an acceleration towards 1.23220 and could breakout even lower towards 1.22031.
Trade Recommendations:
Sell GBPUSD with your take profit at 1.23927.