GBP/USD

GBP/USD 2-Way Trading as the Double POC is Formed

The GBP/USD has formed two important zones and we might see moves in both directions.

Long trades could show up around 1.3865-85. A rejection from the zone targets 1.4020. However there is a lot of confluence within the upper POC zone. D H5 followed by the ATR projection high and previous strong resistance is screaming for a sell. Intraday traders might use that opportunity to short at the zone and take intraday pips or scalp. The targets are 1.3980, 1.3954 and 1.3904.

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Cheers and safe trading,

Nenad

 

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.