Only buy a break above 1.2980. | 02 December 2019
02 December 2019, GBP/USD
Technical Observation
Although GBPUSD is in an active up trend, we expect a possible correction to push price towards 1.2580. This bearish price rally is the continuation of a retracement wave count and should not go beyond 1.2580. On its way to the lowerside, the key levels to look for include 1.2840, 1.2710 and 1.2640. If these levels are breached, then a rally towards 1.2880. And on the other side, should the price rally to the upperside, then a break out above 1.2980 will be a good confirmation that we are continuing to the upperside.
Trade Recommendations:
Only buy a break above 1.2980.
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.
