GBP/USD Bullish Continuation Above 1.2540

The GBP/USD has formed a bullish bounce off the W H3. We can see that uptrend might continue on a bullish close above W H4 1.2540.

If the price makes a bullish close above 1.2540 we should see uptrend continuation. New buyers will join and the price should reach 1.2575 followed by 1.2612. M H4 resistance is exactly at 1.2638, so a strong bullish impulse should price the spike up. Only a 4h candle close below 1.2429 might negate the bullish scenario.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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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.