Mihai_Iacob

GbpUsd- Looking for selling opportunities

Short
OANDA:GBPUSD   Livre sterling / Dollar américain
On my 21 of July GbpUsd analysis, I said that the pair can rise to the 1.24 zone, drawing attention to the falling wedge formation.
Indeed, the pair broke above the falling trend line resistance just under 1.23 and reversed.
The long-term trend is bearish and the rise from the recent 1.1750 bottom is corrective in nature.
Yesterday's reversal can be the first sign of the end of this correction and the pair can be ready to resume its long-term trend.
That being said I will look to sell rallies in search of a good R: R, considering negation above 1.24

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