Rebuy GBPUSD from 1.21575 towards 1.23170. | 26 August 2019
26 August 2019, GBP/USD
Technical Observation
As we said in our previous forecast, GBPUSD failed to break below the turncoat support zone 1.21735-1.22210 and is still rallying above this zone. This is a good buy zone and while the price is contained above it, we're expecting a rally further to the upperside towards 1.22010. If you're not already in a buy position, you could place a pending buy position in between, 1.21735-1.22210 with your stop loss below 1.21735 take profit at 1.23170. This view can only be revisited in case the price breaks and closes below 1.21735.
Trade Recommendations:
Rebuy GBPUSD from 1.21575 towards 1.23170.
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.
