06 ноября 2019, GBP/USD
Technical Observation
After establishing a swing high around 1.29990, the cable retraced back to the lowerside but could not reach any of the retracement fib levels below it. I 'm waiting for a clear breakout above the swing high 1.29990 to pick a long term buy order towards 1.30560. And on the other side, if price is to retrace to the lowerside, then the best place iot could go up to is the 50.0% fib level, on its way to the lowerside, the key levels to look for include 1.27755, 1.26075 and lastly 1.24950.
Trade Recommendations:
Conservative traders can wait and buy a break above the swing high, or a bounce from 50.0% fib level.
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