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Resell GBPUSD from 1.23543 with your take profit at 1.22048.

Resell GBPUSD from 1.23543 with your take profit at 1.22048. | 07 October 2019

07 October 2019, GBP/USD

Technical Observation

Earlier today, GBPUSD went below the 61.8% fib level and is still very mush bearish on the hourly chart attached. While the price is contained below the 50.0% fib level, I expect a rally toward the daily low, 1.22048 and could breakout lower. On the hourly chart attached, I'm waiting for a retaracement back towards the level 1.23543 to pick a long term sell order towards 1.22048. A break below this line will mean we're continuing to the lowerside with the next ideal take profit at 1.210.

Trade Recommendations:

Resell GBPUSD from 1.23543 with your take profit at 1.22048.

TRADE METALS WITHOUT SWAPS!

Imelda Maseno
Analyst of «FreshForex» company
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