Analysis of GBP/USD for November 09, 2018


Recently, the GBP/USD pair has been trading downwards. As I expected, the price reached my downward target at 1.3000. According to the H1 timeframe, I found that the price stopped at Fibonacci retracement 38.2% (1.3000), which is a sign that buyers were found. Anyway, the short-term trend is still bearish and my advice is to watch for the breakout of 1.3000 to confirm further downward continuation. The downward targets are set at the price of 1.2950 and at the price of 1.2885.

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