GBP/USD Possible Bullish Bounce

GBP/USD Possible Bullish Bounce

>> The GBP/USD has formed a POC zone withing W L3 W L4 and trend line confluence. The price could go up if we see a close above 1.3000<<

1.2950-70 is the POC zone and further bullish momentum is expected if the price makes a close above retracement (red) trend line. Next targets are 1.3048, 1.3087 and 1.3150. That could be a start of nee bullish wave and the door to 1.3250 will be open. Price close below 1.2900 will probably start a move towards 1.2887 and 1.2810.

GBP/USD Possible Bullish Bounce

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.