GBPUSD October, 19 2020

Technical Analysis
Monday, October 19, 2020 - 12:32
Point Trader Group
GBPUSD October, 19 2020

Overview:

The chart above shows that the pair is approaching strong resistance levels around $ 1.3060 - $ 1.3080.

Expected:

We will wait for the pair to reach the aforementioned resistance levels, and in the event that negative signals appear, we may sell to target 1.2950.

Alternative Scenario:

On the other hand, we think that if the 1.3080 level is broken to the upside, the pair may push further to the upside, to reach the 1.3120 level.

 

Resistance1.30601.30801.3100
Support1.29501.29251.2900

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