GBP/USD Bulls are Taking Over but Watch for W H3

The GBP/USD has been rejecting from the W L3 Zone and at this point we can see the price moving up.

The price is trapped between 2 zones W H3 and W L3. This is the time for retracement towards W H3 level. 1.2600 zone could be good for sellers. If the price doesn’t close above 1.2600 we should see a move down. However 1.2500 zone is where buyers are. 1.2500-1.2600 seems to be the current range. Any close above 1.2600 or below 1.2500 will mark the next breakout move.

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.