GBP/USD New Lows are Smiling to Sellers

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/USD is clearly bearish.  At this point the price stands at the W H5 so we might see a rally which sellers might use for selling at a better price.

There are 2 POC zones where we could see a new wave of selling. The first POC 1.2760-90 is additionally supported by the order block (red line). In the case of a deeper retracement up watch for 1.2820-60. Reversal patterns in the zone could also show sellers and we should see a further drop towards 1.2780, 1.2685 and 1.2650. Below 1.2650, 1.2579 is the target. Selling the rallies continues.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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