GBP/USD Up if 1.2280 Zone Holds
May 12, 2020
2 min read
Dear Traders,
The GBP/USD dropped below 1.2300 again during the Tokyo session. However, we can see that the market is trying to make a bounce.
The GBP/USD is still in ranging mode. However, the market needs to close above W L3 with 4h candle for another bullish momentum – 1.2344. A close above might initiate buyers towards 1.2405 and 1.2466. For the bullish scenario to be valid 1.2280 needs to hold, else we might see a drop below W L4 towards 1.2220.
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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