Forex Technical Analysis: Trend potential – Buy GBPUSD towards 1.30119.


Buy GBPUSD towards 1.30119.

Technical Observatuion

According to the two moving averages attached above,GBPUSD is in an active up trend. With this, we expect a possible momentum towards the daily high, 1.30119, On its way to the upperside, the key levels to look for include 1.20948, if this level is broken, then further momentum to the upperside is expected. On the lower side, should the price break below 38.2% fib level, 1.28224, this this will give us the best opportunity to pick a sell towards the 50.0% fib level, a break below this level could push the price even lower.

Trade Recommendations:

Buy GBPUSD towards 1.30119.

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