GBP/USD Risk Appetite Still High But the Cable Should Drop

Hi traders,

The GBP/USD has been empowered by the rise in the risk appetite that was encouraged by China/US trade agreement. Two POC zones seem to be seller friendly.

The GBP/USD could reject from 1.2820-30 and 1.2850-60. Those two POC zones are good for sellers as profit taking and fresh selling could happen there within the zones. Targets are 1.2780 and a strong 1h or 4h close below it, could reject the pair further down. That would be counted as a continuation trade towards 1.2730-1.2710. Only a close above 1.2860 will be bullish for the pair targeting 1.2890 zone.

GBP/USD Risk Appetite Still High But the Cable Should Drop

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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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.