GBP/USD Break Below 1.3000 Makes a Bearish Continuation Move

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/USD is bearish. Below 1.3000 there is a potential for 1.2938, followed by 1.2893. Selling the rallies is the option now.

The GBP/USD has formed a bearish 1-2-3 pattern below 1.3000 and the channel. At this point, we should see a continuation below 1.2984 towards 1.2972 and 1.2938. Only a break of 1.2938 might make the price move towards 1.2893. Only the break of 1.3050 might bring the price in a potential uptrend again.

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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