The GBP/USD has formed a hidden bullish divergence around 4/8 and W L3 pivots. Next bounce could make a breakout towards 1.3100.
The price is bouncing from 1.2920-40 zone and going straight towards retracement trend line. If we see a 4h close above 1.3000 it could initiate a fresh buying momentum towards 6/8 – 1.3060 and W H4 around 1.3100. Failure to close below W L3 pivot cues for bullish domination at this point. Look for buying the dip, however be careful of any Brexit related news. Headline risk is big.
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Many green pips,
Nenad Kerkez aka Tarantula FX