GBP/USD Potential Bullish Bounce at the POC

The GBP/USD has bounced towards 1.2670 yesterday and now we can see an expected retracement.

If the pair hits the POC zone we might see another bounce. W L4 1.2505 is the potential bouncing spot along with 1.2450. Rejections should be targeting 1.2628 and 1.2677. A break above the W H3 will target 1.2707. However, first is to watch the W L4 and any bounce which might happen there.

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.