GBP/USD Bullish Bounce Hints More Bullish Strength

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi traders,

The GBP/USD shows a nice bullish move with clear entries taken with the CAMMACD MTF. (automated). If we see more of a retracement pay attention to POC zone.

Next bouncing spot could be a retest of the POC zone 1.2980-1.3000. However, if we don’t see a deeper retracement we can also watch for 1.3030 bounce where we can see historical buyers. Targets are 1.3106 and 1.3130. See the camarilla.mtf in action on the chart.
Only a drop below the projected ATR low 1.2975 will initiate a neutral move in the pair, where a test of 1.2928 is a big possibility in that case. Momentum is still strong and positive.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea</a

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