Sell GBPUSD with your take profit at 1.27631. | 29 October 2019

29 October 2019, GBP/USD

Sell GBPUSD with your take profit at 1.26319.

Technical Observation

Just as I stated yesterday, GBPUSD moved just slightly to our way but is still several pips away from our target, we expect a possible momentum towards 50.0% fib level and could breakout even lower. The idea is not to look for a sell now, rather, wait for a pullback towards 23.6% fib level, 1.28942 to pick a long term sell order towards 50.0% fib level. If you are looking at this chart at the moment, the best position is a sell. But hold onto a sellers perspective as long as the price has not reached 50.0% fib level.

Trade Recommendations:

Sell GBPUSD with your take profit at 1.27631.

Imelda Maseno
Analyst of «FreshForex» company
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