The GBP/USD is in a strong uptrend. If the H1 or H4 closes above 1.2961, the doors to 1.3000 will be open.
The POC zone 1.2845-60 should provide bounce for new buyers. If we see a retracement, the POC zone is where buyers are. However, as the trend is strong, we might see a bounce at 14.6 fib. The first target is 1.2961, followed by 1.2992 and 1.3045. If the market gets to DH4 and above, we should see some retracement due to profit taking.
The Analysis has been done with the CAMMACD.Core and Sit Systems
For a look at all of today’s economic events, check out our economic calendar.