Buy GBPUSD from 1.26530. | 17 October 2019
17 October 2019, GBP/USD
Technical Observation
GBPUSD is currently retracing to the lowerside. Just as we stated during the previous analysis, while the price is still being contained above the two simple moving averages , we expect a possible momentum to the upperside and should break out above 1.27880, we expect a possible momentum to the upper side. The idea is not to buy this pair now, rather, wait for price to retrace back towards 1.26870, then pick a low risk buy order with your stop loss below 1.2518, and take profit at 1.2900.
Trade Recommendations:
Buy GBPUSD from 1.26530.
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.
