The GBP/USD is in a retracement mode but still in downtrend. The price might turn at the POC zones.
The price is in a retracement mode and might get to any of the POC zones. The first possible spot for potential bearish entry could be 1.2095-1.2125. Look for bearish reversal patterns or bearish signs within the zone. However if the price makes a retracement higher, then watch for 1.2210-50 zone. Targets for the move are 1.1980 and 1.1920. Only Above 1.2320 we should see a trend change on 4h timeframe.
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