Forex

GBP/USD 1.2950 Zone Exposed

July 20, 2018

2 min read

tarantula fx

Head of Trading

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Hi traders,

The GBP/USD has made a strong move below 1.3080 and we can see a technical bearish alignment targeting 1.2950 zone.

The GBP/USD is trapped below the bearish confluence (trend lines, BB and D H3) with a potential to move further down, below the trend lines and D L3 level. According to ATR, Camarilla and BB confluence we might see 1.2960-1.2935 today as the final target zone. The trend is bearish in all time frames. The only thing traders need to watch (and potentially reverse the price) is a profit taking that happens on Fridays.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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