GBP/USD Forecast: waiting for a breakout above the upper trend line

news_22_feb_2_gbp_usdWave Analysis

The cable is currently rallying within a range, not going above the upper trendline or below the supportive trendline. These are key diagonal levels and while the price is not above to clearly breakout above or below them,we choose to trade reversals. basically, we are waiting for a breakout above the upper trendline to pick a buy, or a break below the supportive trendline to pick a sell. ON the 4 hours attached, we;re expecting a possible bounce from the supportive trendline to pick a long term sell.

Trade Recommendations:

Sell a bounce from the upper trendline.

Sell a bounce from the upper trendline.

Origin: FreshForex

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