Rebuy GBPUSD from around 1.28833. | 05 November 2019
05 November 2019, GBP/USD
Technical Observation
After breaking above the 38.2% fib level, GBPUSD retraced back to the lower side but is still above. The previous day's retracement rally should continue even today, but should not go below 38.2% fib level, we're waiting for a bounce from 38.2% fib level, 1.28833 to pick a long term buy order towards 1.31704, if price goes above this level, then further momentum to the upperside is expected towards 1.34531. On this chart, should the price breaks below 1.28833, then this could be an onset to bearish rally towards 1.25318.
Trade Recommendations:
Rebuy GBPUSD from around 1.28833.
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.
