19.09.201813:39 Forex Analysis & Reviews: GBP/USD analysis for September 19, 2018

Long-term review

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Recently, the GBP/USD pair has been trading downwards. I found a breakout of the 10-day rising wedge, which is a sign that sellers took control from the buyers and that buying looks risky. The strong supply entered the market and my advice is to watch for selling opportunities. I have placed Fibonacci retracement to find potential downward targets. I got Fibonacci retracement 38.2% at the price of 1.3053 and Fibonacci retracement 61.8% at the price of 1.2950.

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