Sell a bounce from eirther 1.23890, or 1.24257. | 04 October 2019
04 October 2019, GBP/USD
Technical Observation
Just as we mentioned few days ago, GBPUSD retraced massively to the upperside and even hit the 61.4% fib level but could not reach the 50.0% fib level. According to the hourly chart attached, the best place to sell this pair is if the price bounces off from the 50.0% fib level, 1.24757, or if the price can a break below the daily low of 1.22701. if your sold a bounce from the 61.4% fib level, 1.23490, you can hold onto this trade but have your stop loss above the previous day's highest high.
Trade Recommendations:
Sell a bounce from either 1.23890, or 1.24257.
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.
