The GBP/USD has formed a bullish divergence exactly near the M L5 bottom. 1.2710-40 is the zone where the correction could start. If 1.2700 holds the price might retrace to 1.2844 and 1.2900. Break above 1.2923 should target 1.3000 and 1.3052.
However a drop bekow 1.2700 will pressure the pair further, leading towards lower pivotal zones 1.2687 and 1.2609.
GBPUSD Current Trading Positions
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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