Wait for a posible buy from 50.0% fib level. | 14 October 2019
14 October 2019, GBP/USD
Techhnical Observation
Just as in EURUSD, GBPUSD is in a temporary up trend. Following the establishment of the daily high around 1.2706, we expect the current movements to the lowerside to be a mere retracement rally but should not go beyond 50.0 % fib level 1.2450. If you're not in any position at the moment, you can wait for a break below 1.2585 to pick a low risk sell towards 50.0% fib level, alternatively, you could wait for a bounce from the 50.0% fib level to pick a long term buy order towards 1.2706.
Trade Recomendations:
Wait for a possible buy from 50.0% fib level.
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.
