Wait for a sell from around 50.0% fib level towads 1.26940. | 06 October 2020
06 October 2020, GBP/USD
Technical Observation
So sometimes now, the British pound continues to rally to the upper side after establishing a swing low around 1.26940. As it is now, I am looking at two levels, the zone 1.302777-1.30016 and the 50.0% fib level, if the price fails to break above the 50.0% fib level, then this will be a good place to consider a possible long term sell position towards 1.26940. A break above 50.0% fib level may push the price much higher with the next idea target set around 1.34600 and may extend much higher towards 1.364.
Trade Recommendations:
Wait for a sell from around 50.0% fib level towards 1.26940.
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.
