Sell GBPUSD with your take profit at 1.25310. | 08 November 2019
08 November 2019, GBP/USD
Technical Observation:
Just as we stated earlier this week, GBPUSD rallied to the lower side and even went below the 38.2% fib level. This is a key line and while the price is contained below this line, I expect further momentum to the lower side and should take us towards the swing low 1.02048. On its way to the lowerside, the key line to look for include 1.27640, 1.26200 and 1.25310. If these levels are broken, then further momentum to the lowerside is expected with an ultimate target at 1.20480.
Trade Recommendations:
Sell GBPUSD with your take profit at 1.25310.
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.
