GBP/USD Rally Has Been Faded but Still Bullish

The GBP/USD rally has been faded. At this point we should see a continuation towards higher levels if 1.2530 zone stays unscathed.

Bulls are fighting to regain the full control and we can see that the price is still in bullish mode. The GBP/USD is supported above the middle daily BB line and we might see a continuation up. The first target is W H3 camarilla pivor 1.2633 followed by 1.2677 and 1.2726. Failure to close above W H3 camarilla might lead to another drop lower.

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.