09 Octubre 2019, GBP/USD
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.