GBP/USD Adam and Adam Pattern Suggests Further Move Up

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The GBP/USD has formed Adam and Adam pattern, which is a stronger variant of a W bullish pattern. Continuation up is expected.

As long as the market is above 1.3100 the GBP/USD is very bullish. We can see that the breakout happened exactly at 1.3100 and 1.3150 slowed it down. In order to proceed further up, the pair needs to break 1.3150. Targets are 1.3174 and 1.3200. On 4h time frames dips towards 1.3050 suggest buying opportunities.

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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