Sell GBPUSD with your take profit at 1.26319. | 28 October 2019
28 October 2019, GBP/USD
Technical Observation
GBPUSD is currently in an active downtrend. Following the bearish cross seen between the two simple moving averages, expect a possible momentum to the lowerside, this downward rally is supported by the fact that the price recently went below the 38.2% fib level, 1.28217. This is a possible bearish continuation signal, we expect further momentum to the lowerside and may break below the 50.0% fib level but should not go below the 76.4% fib level, 1.26319, if this target is broken, then further momentum to the lowerside is expected.
Trade Recommendations:
Sell GBPUSD with your take profit at 1.26319.
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.
