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Wait for a retracement back towards the 50.0% fib level to sell GBPUSD.

Wait for a retracement back towards the 50.0% fib level to sell GBPUSD. | 30 September 2019

30 September 2019, GBP/USD

Wait for a retracement back towards the 50.0% fib level to sell GBPUSD.

Technical Observation

This week, I expect GBPUSD to either break below the daily low of 1.22701 or it should remain within a range, not going below 1.22701 or above 1.25813. On this chart, I'm looking at the following levels 1.23435, 76.4% fib level, 61.8 % fib level, 1.23890 and 50.0% fib level, 1.24237. Anytime the price approaches any of these levels than that will give us a good place to trade from. Basically, I'm waiting for a retracement that should not rise above the 50.% fib level, or 1.24257.

Trade Recommendations:

Wait for a retracement back towards the 50.0% fib level to sell GBPUSD.

TRADE METALS WITHOUT SWAPS!
Imelda Maseno
Analyst of «FreshForex» company
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