06 Oktober 2020, GBP/USD
Technical Observation
So sometimes now, the British pound continues to rally to the upper side after establishing a swing low around 1.26940. As it is now, I am looking at two levels, the zone 1.302777-1.30016 and the 50.0% fib level, if the price fails to break above the 50.0% fib level, then this will be a good place to consider a possible long term sell position towards 1.26940. A break above 50.0% fib level may push the price much higher with the next idea target set around 1.34600 and may extend much higher towards 1.364.
Trade Recommendations:
Wait for a sell from around 50.0% fib level towards 1.26940.