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Wait for a bounce from 1.3012 to pick a buy.

Wait for a bounce from 1.3012 to pick a buy. | 23 December 2019

23 December 2019, GBP/USD

Wait for a bounce from 1.3012 to pick a buy.

Technical Observation:

Around 3rd of December to 4th of December, GBPUSD rallied massively to the upperside and even went above 1.3012. GBPUSD continued to the upperside and but could only hit the high of 1.3530. The pair then pulled back to the lower side and is now currently rallied around the same zone we were selling it from. If the price breaks and close below 1.2968, then we may consider a possible long term sell towards 1.2755. But in case the price bounces from 1.3012, then this will give us a good place to look for a possible long term buy position.
Trade Recommendations:
Wait for a bounce from 1.3012 to pick a buy.
Imelda Maseno
Analyst of «FreshForex» company
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