01 Noviembre 2019, GBP/USD
Technical Observation
After establishing a swing high around 1.301, GBPUSD retraced to the lowerside but only up to 23.6% fib level, this level is very significant and while the price remains above it, we expect a possible momentum to the upperside towards 1.30050 and could breakout even higher. On on the lower side,should price bounce off from 1.30050, then this will mean we are looking for a sell towards 23.6% fib level, a break below this fib level will mean we are continuing to the lowerside towards 50.0% fib level.
Trade Recommendations:
Buy GBPUSD with your take profit at 1.30050.