GBP/USD Risk Appetite Still High But the Cable Should Drop

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi traders,

The GBP/USD has been empowered by the rise in the risk appetite that was encouraged by China/US trade agreement. Two POC zones seem to be seller friendly.

The GBP/USD could reject from 1.2820-30 and 1.2850-60. Those two POC zones are good for sellers as profit taking and fresh selling could happen there within the zones. Targets are 1.2780 and a strong 1h or 4h close below it, could reject the pair further down. That would be counted as a continuation trade towards 1.2730-1.2710. Only a close above 1.2860 will be bullish for the pair targeting 1.2890 zone.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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