GBP/USD Trend Line Break Provides Additional Momentum

GBP/USD Trend Line Break Provides Additional Momentum

Dear Traders,

The GBP/USD has formed a form of inverted head and shoulders pattern on the H1 chart. Unless 1.2680 breaks, we will see a retest of lower camarilla pivots.–>

The price has made a break of 1.2650 level to the downside. Watch for 1.2620 and 1.2600 if bearish momentum persists. However, if the price drops to 1.2600 a reversal bullish pattern should provide a counter trend trade opportunity due to a big support confluence in the area. Only if the pair breaks 1.2680 we will see a reversal towards 1.2720. Below 1.2680 bears are dominating. All bearish signals are very visible on the screen as they are non-repainting and fully automated.

The analysis has been done with the
CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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.