Sell GBPUSD towards 50.0% fib level. | 19 December 2019
19 December 2019, GBP/USD
Technical Observation
Yesterday, GBPUSD moved to the lower side and even went below the 23.6% fib level. While the price is contained below this level, I expected a possible momentum to the lowerside. The move we are currently seeing to the lower side is a retracement rally and could see price hit the 50.0% fib level. However, according to the two moving averages above, GBPUSD is still in an active up trend. If the price can break beyond the recent highest high, then further momentum to the upper side is expected.
Trade Recommendations:
Sell GBPUSD towards 50.0% fib level.
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.
