Buy GBPUSD with your take profit at 1.30050. | 01 November 2019
01 November 2019, GBP/USD
Technical Observation
After establishing a swing high around 1.301, GBPUSD retraced to the lowerside but only up to 23.6% fib level, this level is very significant and while the price remains above it, we expect a possible momentum to the upperside towards 1.30050 and could breakout even higher. On on the lower side,should price bounce off from 1.30050, then this will mean we are looking for a sell towards 23.6% fib level, a break below this fib level will mean we are continuing to the lowerside towards 50.0% fib level.
Trade Recommendations:
Buy GBPUSD with your take profit at 1.30050.
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.
