Wait for a posible buy from 50.0% fib level. | 14 Oktober 2019

14 Oktober 2019, GBP/USD

Wait for a posible buy from 50.0% fib level.

Techhnical Observation

Just as in EURUSD, GBPUSD is in a temporary up trend. Following the establishment of the daily high around 1.2706, we expect the current movements to the lowerside to be a mere retracement rally but should not go beyond 50.0 % fib level 1.2450. If you're not in any position at the moment, you can wait for a break below 1.2585 to pick a low risk sell towards 50.0% fib level, alternatively, you could wait for a bounce from the 50.0% fib level to pick a long term buy order towards 1.2706.

Trade Recomendations:

Wait for a possible buy from 50.0% fib level.

Imelda Maseno
Analyst of «FreshForex» company
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