GBP/USD Getting Close to Confluence Zone

The GBP/USD is close to its POC zone. 1.2454 is important level as it will be make it or break it for the pair.

A bounce off the zone should be targeting 1.2510, 1.2550 and 1.2590. In the case the pair breaks below, then watch for 1.2418, 1.2390 and 1.2360. Have in mind, that the GBP/USD is still in uptrend but intraday price action at the end of the last week was bearish. W L3 camarilla 1.2454 is important level and the weekly supporting zone. If 1.2454 fails, prepare for further bearish action.

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.