Rebuy GBPUSD from 1.2908. | 29 November 2019

Technical Observation

Following the break above 38.2% fib level, GBPUSD rallied to the upperside but could not breakout above the level 23.6% fib level. In case the price breaks and closes above the 23.6% fib level, then this will be an ideal place to look for a long term buy order with an ultimate target at the daily high 1.2984. If this high is broken, then further momentum to the upper side is expected. But on the other side, should the price break and close below 1.2908, then we are sellers towards 1.2784. On its way to the lowerside, the key lines to look for include 1.2884, 1.2860 and 1.2631.

Trade Recommendations:

Rebuy GBPUSD from 1.2908.