Wait for a rebuy from 50.0% fib level towards 1.42328. | 25 May 2021
25 May 2021, GBP/USD
Technical Observertion
Earlier today, the British pound rallied to the upperside but is still very much bullish. As it is now, we are waiting for a clear breakout above 1.42328 to pick a possible long term buy order with my target set at 1.45 and may extend much higher. And should the price break below the 23.6% fib level, then I will expect further rally to the lowerside towards 50.0% fib level which will act as a good place to consider a possible long term buy position with an ideal target set at 1.42326.
Trade Recommendations:
Wait for a rebuy from 50.0% fib level towards 1.42328.
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.
