Forex Technical Analysis: Trend potential – sell GBP below 1.2737


sell GBP below 1.2737

Technical Observation

Earlier this week, GBP rallied intensely to the lowerside and even went below the daily support line 1.2737. While the price is contained below this line, I expect a steep decline towards 1.1870 and should breakout even lower. On its way to the lower side, the key lines to look for include 1.2520, 1.2305, and 1.2085. If these lines are broken, then further accelartion to the lowerside is expected.

Trade Signal.

sell GBP below 1.2737

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