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Buy GBPUSD from 1.2204.

Buy GBPUSD from 1.2204. | 09 October 2019

09 October 2019, GBP/USD

Buy GBPUSD from 1.2204.

technical Observation

Yesterday, GBPUSD remained within an active downtrend and even hit the daily low 1.2204. This is a key daily support and while it protects price from violating the lower side, we're expecting a bounce from this level to pick a long term buy towards 1.2275. A break below this level could push the price to the lowerside with the next ideal take profit at 1.2122. A break below this level could push the price even further to the lowerside with the next ideal take profit being 1.2085. On this chart, a bounce from the 50.0% fib level could provide a good sell place.,

Trade Recommendation:

Buy GBPUSD from 1.2204.

TRADE METALS WITHOUT SWAPS!

Imelda Maseno
Analyst of «FreshForex» company
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