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Farooq

Technical Analysis – GBPUSD _ 12-02-2019

HomeTechnical AnalysisTechnical Analysis – GBPUSD _ 12-02-2019
12
Feb
Technical Analysis – GBPUSD _ 12-02-2019

The pair ended yesterday’s trading below the first target of the downside scenario at 1.2910 (38.2% Fibonacci) … The price is approaching its second target at 1.2810-15 (50% Fibonacci) …

The possible bearish scenario remains dropping as long as trades remain below 1.3000 – 1.3030 … A breach of 1.2810 could extend from the current bearish wave to 61.8% at 1.2700 – 1.2720 (the third scenario target).

A break above 1.3000 – 1.3030 might be enough to end the downside scenario and the pair could then push towards 1.3115 as the first target and then 1.3210 as the second target.


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