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Wait for a buy from 38.2% fib level.

Wait for a buy from 38.2% fib level. | 22 November 2019

22 November 2019, GBP/USD

Technical Observation

Today and possibly up to Monday next week, GBPUSD could remain within a range not going above the swing high 1.29845 and the 50.0% fib level, these two levels are significant levels and while the price is not able to clear break below them, we choose to remain flat, If the price breaks and closes below 38.2% fib level, we'll expect a sell towards 50.0% fib level, and in case the price breaks and closes above 1.29845, then this will be an ideal place to consider a long term buy order with an ultimate target at 1.310.

Trade Recommendations:

Wait for a buy from 38.2% fib level.

Imelda Maseno
Analyst of «FreshForex» company
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