16 Desember 2019, GBP/USD
Technical Observation
GBPUSD established a hourly resistance around 1.3525 and is not showing any signs of breaking above this level any time soon. Instead, we're expecting a possible 50.0% fib retracement to pick a low risk buy order. As it is now, the price has only moved up to 38.2% fib level. And could not close low. If you took a buy based on this bounce, you can hold onto this position expecting price to continue even higher towards 1.3525. But, the correct place to pick a buy from is if the price can move downwards towards 50.0% fib level.
Trade Recommendations:
Remain long, or wait for a correction to pick a buy towards 1.3525.