Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110. | 13 August 2019
13 August 2019, GBP/USD
Technical Observation
GBPUSD is currently rallying around an untested support zone 1.19530-1.120290. This is a developing key zone and while price remains above it, we're waiting for a clear bounce from it to pick a low risk buy order towards the the turn coat Resistance zone marked 1.24110-1.24870. Should price breakout above this resistance zone, then we'll expect further momentum to the upperside towards the next verified resistance zone marked 1.27170-1.27930. As it is, only a break below 1.19530 will attract a buy.
Trade Recommendations:
Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
