GBP/USD Bullish Bounce Off the POC Zone

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The GBP/USD has formed multiple bottoms above an ascending trend line which provides a confluence with other price action tools.

The POC zone 1.2830-40 is rejecting the price to the upside. Bullish bounce should be stronger with the ascending trend line which also holds the trend in place. Targets are 1.2900 and 1.2952. A 4h close above 1.2955 will provide continuation towards 1.3054 – Weekly H5 camarilla pivot. As long as 1.2800 holds, bulls have nothing to worry about. In case 1.2800 breaks lower, then we could see a deeper retracement.

The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

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

  Subscribe  
Notify of

🍿️ Discover your path to a 100% yearly returns over the convos with Chris Svorcik!

X