Resell GBPUSD from 1.23543 with your take profit at 1.22048. | 07 October 2019
07 October 2019, GBP/USD
Technical Observation
Earlier today, GBPUSD went below the 61.8% fib level and is still very mush bearish on the hourly chart attached. While the price is contained below the 50.0% fib level, I expect a rally toward the daily low, 1.22048 and could breakout lower. On the hourly chart attached, I'm waiting for a retaracement back towards the level 1.23543 to pick a long term sell order towards 1.22048. A break below this line will mean we're continuing to the lowerside with the next ideal take profit at 1.210.
Trade Recommendations:
Resell GBPUSD from 1.23543 with your take profit at 1.22048.
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.
