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Wait for a bounce from 1.2121 to pick a buy.

Wait for a bounce from 1.2121 to pick a buy. | 02 September 2019

02 September 2019, GBP/USD

Wait for a bounce from 1.2121 to pick a buy.

Technical Observation:

GBPUSD is currently trading within the daily high 1.2293 and the daily low 1.2014. Today, and possibly for the next few days, we expect this pair to remain within this range not going above the daily high or below the daily low. As it is on the 4 hours chart, we’re waiting for a decline towards the 61.58% fib level, 1.2121 to pick a possible low risk buy, Incase the price breaks below it, then further momentum further to the lowerside is expected towards 1.2080 but should not break lower.
Trade Recommendations:
Wait for a bounce from 1.2121 to pick a buy.
Imelda Maseno
Analyst of «FreshForex» company
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