GBPUSD possibly targeting 1.5350

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

2015-11-19_11-13-38

As you could read in my previous GBPUSD analysis the pair has broken through 1.5190 initially then went down to a target zone – 1.5155. The pair has been contained below 1.5250 as presumed but today we have seen a breakout through 1.5250 which is telling us that the pair might be targeting 1.5350. From the contextual point of analysis we have 2 different focal points. 1.5200-20 is the POC zone where we can see a confluence of Monthly inner trend line, X cross, 89 EMA and inner trend line. If the pair retraces to the zone we could expect a bounce towards 1.5300 and 1.5350. If the pair doesn’t pull back towards POC then we should pay attention to 1.5300. If we get a H1/H4 close or high momentum push above 1.5300 we should see 1.5350. In both ways 1.5150 should hold.

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read the original article on AdmiralMarkets.com

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