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

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

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.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of