GBP/USD Bullish Price Action Might Be Going For Wizz 5 Test

Nenad Kerkez Top-XE

The GBP/USD has formed a bullish POC zone within Wizz Lvl1/2 and the price might bounce to the upside straight from the zone.

If the price proceeds with a bullish momentum, we might see a good continuation pattern. A close above the M H3 camarilla 1.2460 implies further continuation up. Targets are W H5 1.2542 as the fist target, M H4- 1.2632 as the second target and Wizz 5 – 1.2690 as the final target. Have in mind that not all targets might be hit in a swing as the price usually retraces back and bounce. Daily close above W H5, M H4 will imply a possible continuation. The GBP is still in the mood of the Headline Risk so be careful as any BREXIT related news might turn the price upside down, negating an interim momentum to the north.

GBP/USD Current Trading Positions

Sell 80%

Buy 20%

Avg Sell Price 1.2284

Avg Buy Price 1.2329

Liquidity Distribution

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

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Author

Nenad Kerkez

Top-XE

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