16 октября 2019, GBP/USD
Technical Observation
GBPUSD is in an active up trend. As we stated on the other day's analysis, We expect a steep momentum to the upperside. This is supported not only by the fact that the price is making higher lows, but by the fact that the price is being contained above the two Simple moving averages. While these Moving averages are not violated to the lowerside, we're looking for long term buy orders. Conservative traders should wait for pullbacks towards 1.2619 to pick low risk buy positions.
Trade Recommendations:
Rebuy GBPUSD from 1.26530.
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