GBP/USD Downtrend Continues if the Price Closes Below 1.3896

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

As we could see in my previous GBP/USD coverage, it happened exactly as planned and now we see a continuation of that trade.

The new ecs.cammacd.light template that is a very accurate system (module) traded on 4h timeframe shows a possible continuation of the bearish scenario if the price closes below W L3 -1.3896. We might see 1.3876, 1.3820 and 1.3792. At this point, the price is rejecting 1.3950 that was a bit expected. For, intraday traders, short on rallies, for swing traders, move the TP down if the price makes a 4h close below W L3 and put the stop to BE+1. If the price makes a monthly close below M L3, that will not be good for the GBPUSD bulls.

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