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Sell a bounce from the 76.4 fib level

Sell a bounce from the 76.4 fib level | 09 August 2019

09 August 2019, GBP/USD

Sell a bounce from the 76.4 fib level

Technical Observation

GBPUSD is currently trading with an increasing bearish bias momentum. Currently the price is rallying above the previous week's lowest low 1.20791. On this chart, we're only waiting for a retracement back towards the 76.4 Fib level, 1.21837 or a break below the previous week's lowest low to pick a long term sell order with an ultimate target at 1.20430. On this chart, the only levels to focus on include 1.21837, 1.22484, 1.23007 and 1.23530. Anytime the price approaches these levels, we'll look for a trade.

Trade Recommendations:

Sell a bounce from the 76.4 fib level

Imelda Maseno
Analyst of «FreshForex» company
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