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Wait for a bounce from 1.3205.

Wait for a bounce from 1.3205. | 17 December 2019

17 December 2019, GBP/USD

Technical Observation

In the recent past, GBPUSP has been in an active up trend. And lately, the price bounced off from the daily high 1.3514 and could not continue any higher. We expect this bounce to be an end to the previous up trend, that the current bearish momentum is the continuation of a bearish retracement and could see the price break below the 50.% fib level but should not go any lower. If you're flat on this pair now, wait for a bounce from 1.3205 to pick a possible long term buy order towards 1.3514.

Trade Recommendations:

Wait for a bounce from 1.3205.

Imelda Maseno
Analyst of «FreshForex» company
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