GBPUSD October, 19 2020

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

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

  Disclosure of risk:     Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.


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