GBP/USD Rally Has Been Faded but Still Bullish

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/USD rally has been faded. At this point we should see a continuation towards higher levels if the 1.2530 zone stays unscathed.

Bulls are fighting to regain full control and we can see that the price is still in bullish mode. The GBP/USD is supported above the middle daily BB line and we might see a continuation up. The first target is W H3 camarilla pivot 1.2633 followed by 1.2677 and 1.2726. Failure to close above W H3 camarilla might lead to another drop lower.

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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