GBP/USD Bullish as Long as the Price is Above 1.2800

GBP/USD Bullish as Long as the Price is Above 1.2800

Dear Traders,

The GBP/USD is still bullish but the lack of momentum might provide some profit taking and the price could drop. However, T-89 pattern might still give the price the bullish outlook.

The price is still above 1.2800 which indicates bullish strength. However, due to general lack of momentum in the FX markets, the price is mostly ranging. If the price manages to hold above 1.2800 we should see upwards continuation towards 1.2856, 1.2873, 1.2911 and 1.2950 as the final target. However, a drop below 1.2795 could go for 1.2730 and 1.2680.

The analysis has been done with the CAMMACD.MTF template.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.