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GBP/USD Bullish Continuation Above 1.2540

Nenad Kerkez

The GBP/USD has formed a bullish bounce off the W H3. We can see that uptrend might continue on a bullish close above W H4 1.2540.

If the price makes a bullish close above 1.2540 we should see uptrend continuation. New buyers will join and the price should reach 1.2575 followed by 1.2612. M H4 resistance is exactly at 1.2638, so a strong bullish impulse should price the spike up. Only a 4h candle close below 1.2429 might negate the bullish scenario.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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This article was originally posted on FX Empire