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Buy a bounce from the 23.6% fib level with your take profit at 1.2985.

Buy a bounce from the 23.6% fib level with your take profit at 1.2985. | 27 November 2019

27 November 2019, GBP/USD

Buy a bounce from the 23.6% fib level with your take profit at 1.2985.

Technical Observation

GBPUSD is currently consolidating within the range 1.2905 and 1.2820. While the price remains within this range, I'm only trading reversals, I'm waiting for a bounce 1.2820, to pick a buy and a bounce from 1.2985, and in case the price breaks and closes above 1.2985, then this will give us an ideal place to consider a long term buy towards 1.31 or even higher. And should the price close below 1.2820, then this will be a good place to consider a long term sell towards 1.2710 and the next target at 1.2490.

Trade Recommendations:

Buy a bounce from the 23.6% fib level with your take profit at 1.2985.

Imelda Maseno
Analyst of «FreshForex» company
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