04 октября 2019, GBP/USD
Technical Observation
Just as we mentioned few days ago, GBPUSD retraced massively to the upperside and even hit the 61.4% fib level but could not reach the 50.0% fib level. According to the hourly chart attached, the best place to sell this pair is if the price bounces off from the 50.0% fib level, 1.24757, or if the price can a break below the daily low of 1.22701. if your sold a bounce from the 61.4% fib level, 1.23490, you can hold onto this trade but have your stop loss above the previous day's highest high.
Trade Recommendations:
Sell a bounce from either 1.23890, or 1.24257.
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