GBP/USD Moving Higher as Expected

Dear Traders,

As we already know, I was a bit bullish on the GBP crosses, mostly on the GBP/USD. At this point we can see that the first target has been reached. Continuation is possible.

1.2350-64 zone is the first POC. The 2nd POC zone comes within 1.2280-1.2305. If the pair gets to any of the zones we should see further buying. However, a close above 1.2410 in 4h timeframe could mean a continuation of the bullish trend towards 1.2445 and 1.2488 where the target projections are. I don’t see bears unless the pair closes below 1.2280 on 4h timeframe.

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.


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.