GBP/USD Still Bullish Above 1.3100

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The GBP/USD has made a retracement to 1.3100 zone but the rejection from 7/8 MM pivot point suggests a possible continuation to 8/8 and +1/8 but only if W H4 camarilla pivot is broken.

Bounce from 1.3100 zone suggest continuation but retracement trend line (blue dotted line) needs to be broken and price needs to close above 1.3150 (W H4). Only then we might see a continuation to 1.3180 and 1.3245. A loss of 1.3090 might weaken the pair further towards 1.3050 zone. There are no major news regarding GBP today, but any mention of Brexit could cause volatility in the pair.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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