GBP/USD Bullish Price Action Might Be Going for Wizz 5 Test

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The GBP/USD has formed a bullish POC zone within Wizz Lvl1/2 and the price might bounce to the upside straight from the zone.

If the price proceeds with a bullish momentum, we might see a good continuation pattern. A close above the M H3 camarilla 1.2460 implies further continuation up. Targets are W H5 1.2542 as the fist target, M H4- 1.2632 as the second target and Wizz 5 – 1.2690 as the final target. Have in mind that not all targets might be hit in a swing as the price usually retraces back and bounce. Daily close above W H5, M H4 will imply a possible continuation. The GBP is still in the mood of the Headline Risk so be careful as any BREXIT related news might turn the price upside down, negating an interim momentum to the north.

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