The GBP/USD rally has been faded. At this point we should see a continuation towards higher levels if 1.2530 zone stays unscathed.

Bulls are fighting to regain the full control and we can see that the price is still in bullish mode. The GBP/USD is supported above the middle daily BB line and we might see a continuation up. The first target is W H3 camarilla pivor 1.2633 followed by 1.2677 and 1.2726. Failure to close above W H3 camarilla might lead to another drop lower.

GBPUSD

 


 

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

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

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.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD consolidates recovery below 1.0700 amid upbeat mood

EUR/USD consolidates recovery below 1.0700 amid upbeat mood

EUR/USD is consolidating its recovery but remains below 1.0700 in early Europe on Thursday. The US Dollar holds its corrective decline amid a stabilizing market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap. 

EUR/USD News

GBP/USD advances toward 1.2500 on weaker US Dollar

GBP/USD advances toward 1.2500 on weaker US Dollar

GBP/USD is extending recovery gains toward 1.2500 in the European morning on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak. 

GBP/USD News

Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions

Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions

Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns. 

Gold News

Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets

Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets

Manta Network price is defending support at $1.80 as multiple technical indicators flash bearish. 21.67 million MANTA tokens worth $44 million are due to flood markets in a cliff unlock on Thursday.

Read more

Have we seen the extent of the Fed rate repricing?

Have we seen the extent of the Fed rate repricing?

Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.

Read more

Majors

Cryptocurrencies

Signatures