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Have a pending sell limit order around 61.8& fib level.

Have a pending sell limit order around 61.8& fib level. | 09 January 2020

09 January 2020, GBP/USD

Have a pending sell limit order around 61.8& fib level.

Technical Observation

GBPUSD is consolidating, there are no clear sell or buy signals. Few days ago, GBPUSD established a swing low around 1.30565 and few days earlier, we had a swing high around 1.32830. If the price can break below the swing low then we expect a possible momentum towards 1.30110 or above the swing high then we will expect a possible momentum to the upper side towards 1.331 and could extend much higher. As it is now, we are waiting for a possible rally towards 61.8% fib level to pick a sell.

Trade Recommendations:

Have a pending sell limit order around 61.8& fib level.

Imelda Maseno
Analyst of «FreshForex» company
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