Buy GBPUSD from 1.2204. | 09 October 2019
09 October 2019, GBP/USD
technical Observation
Yesterday, GBPUSD remained within an active downtrend and even hit the daily low 1.2204. This is a key daily support and while it protects price from violating the lower side, we're expecting a bounce from this level to pick a long term buy towards 1.2275. A break below this level could push the price to the lowerside with the next ideal take profit at 1.2122. A break below this level could push the price even further to the lowerside with the next ideal take profit being 1.2085. On this chart, a bounce from the 50.0% fib level could provide a good sell place.,
Trade Recommendation:
Buy GBPUSD from 1.2204.
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.
