GBP/USD bears needs to close below 1.2192

Nenad Kerkez Top-XE

The GBP/USD is bearish. We should see a new momentum down if the price makes a close below 1.2190.

The GBP/USD is in a ranging mode on intra-week time frame, but we can see that bears are still dominating. I expected a drop from 1.2220-50 zone and a drop is still possible on any pullback as the GBP is weak and the trend is still down. However, a close below 1.2192 is needed and we should see 1.2143, 1.2089 and 1.2007.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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