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Expect a possible 50.0% fib retracement.

Expect a possible 50.0% fib retracement. | 13 December 2019

13 December 2019, GBP/USD

Expect a possible 50.0% fib retracement.

Technical Observation

GBPUSD established a swing high around 1.3500. This is a significant level and while the price is not able to clearly breakout above it, we're expecting a possible 50.0% fib reteracment. Other than this fib, the other levels the price may pullback to, before we see a continuation to the upperside include 1.3130, 1.2910 and 1.2800. On this bulls side, should the price break above the swing high, 1.3500, then this will give us a good place to pick a long term buy order towards the next key level 1.3600.

Trade Recommendations:

Expect a possible 50.0% fib retracement.

Imelda Maseno
Analyst of «FreshForex» company
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