InvestingScope
Short

GBPUSD: Sell opportunity within a Channel Down.

FX_IDC:GBPUSD   British Pound / U.S. Dollar
The pair has been trading inside a 1D Channel Down ( RSI = 50.947, MACD = -0.002, ADX = 19.228, Highs/Lows = 0.0000). The neutral technical action indicates that it is on/ near its Lower High trend line and as seen on the chart that is very much the case.

The pattern resembles the March/ May 2019 sequence (on the MACD as well). We are expecting a similar behavior and as the current price action hit the 1D MA50 (blue line), a rejection towards the 1.2770 Symmetrical Support.




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Comments

Nice chart! heres my view:
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