GBP/USD Potential for Another Bullish Run

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The GBP/USD has formed a swing above previous retracement highs and we could see a new bullish momentum.

Holding above 1.3060 is crucial for bulls to regain control. Price is above L3 pivot and has not tested W H3 pivot. We might expect a new retest if bullish momentum persists. The target is 1.3170. Have in mind that any negative Brexit news might impact the current bullish run. The GBP/USD is light on fundamental data today so it needs another catalyst to push forward and until it happens we might see a slower price action that is mostly range-bound.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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