GBP/USD Still Neutral but Close to Resistance

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The POC 1.2895-1.2920 is a potential rejection zone. We might see a drop towards lower levels unless 1.2930 is taken out.

The GBP/USD has seen a big drop last week and now its in a retracement mode. As long as 1.2930 holds bears should be safe. However a POC might provide fresh sellers towards 1.2874 and 1.2839. The final target is 1.2785. However a spike above 1.2930 should invigorate bulls and short covering so the next target on a spike is 1.2960 followed by 1.2990.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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