GBP/USD Bears Needs to Close Below 1.2192

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/USD is bearish. We should see a new momentum down if the price makes a close below 1.2190.

The GBP/USD is in a ranging mode on an intra-week time frame, but we can see that bears are still dominating. I expected a drop from the 1.2220-50 zone and a drop is still possible on any pullback as the GBP is weak and the trend is still down. However, a close below 1.2192 is needed and we should see 1.2143, 1.2089 and 1.2007.

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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