Sell GBPUSD towards 23.6% fib level. | 07 November 2019
07 November 2019, GBP/USD
Technical Observation
Since the beginning of this week, nothing much has happened on this pair. GBPUSD barely tested the 38.2% fib level before breaking again below it. While the price is contained below this level, I expect a possible momentum to the lowerside. Ideally, while the price is not able to clear rise above 38.2% fib level, I recommend looking for sell orders towards 23.6% fib level, and on the other side, should the price break above 38.2% fib level, then I will expect a possible momentum towards 50.0% fib level.
Trade Recommendations:
Sell GBPUSD towards 23.6% fib level.
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.
