24 февраля 2020, GBP/USD
Technical Observation
The cable established a support around 1.28487 before pulling back, the pair then pulled back much higher than expected almost hit the 38.2% fib level. We expect the downward rally which began after reaching the highs of 1.29815 to have marked an end to this retracement to the upper side, that the current move to the lower side is the continuation of the main move to the lower side and could push push price below the daily low 1.28487, towards 1.28440. It may extend mush lower.
Trade Recommendations:
Sell a break below 1.29329.
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