11 December 2019, GBP/USD
Technical Observation
GBPUSD is currently in an active up trend. While the price is contained above the Moving Average attached, I expect further momentum to the upper side and we should see a break above the previous days highest high towards 1.335. The current rally to the lower side is a short term corrective wave count and could see the price rally even lower but should not go beyond 1.2989-1.2961. On its way downwards, the key lines to look for include 1.3105, 1.3070, and 1.3025. If these levels are broken especially 1.2961, this will give us good place to pick a long term sell from.
Trade Recommendations:
Wait