GBPUSD 31/05/2019
GBPUSD remains in a bearish bias, still moving below the 50 EMA and 100 EMA which is still moving down on the H1 chart. Intraday bias is still bearish.
For alternative trading strategies based on forex technical analysis today we can look for sell signal confirmation if there is a correction to the area of 1.26443-1.26837. The target potential is up to the range 1.26199-1.25804.
Be careful if the price breaks above 1.26837 because it has the potential to frustrate this bearish scenario.
A bullish opportunity will occur if the price breaks above 1.26937, with the potential for sterling to strengthen to the range 1.27081-1.27476. If you want to open a buy position, make sure the breakout is valid.