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GBP/JPY Bounce Off the POC Zone Might Happen Soon

By
Nenad Kerkez
Published: Jul 24, 2020, 07:58 GMT+00:00

The GBP/JPY is still bullish. The price is getting closer to the POC zone where we might find buyers.

GBP/JPY

The GBP/JPY is still bullish. The price is getting closer to the POC zone where we might find buyers.

134.85-135.10 is potentially good zone to place new long positions. 61.8 is adding to the confluence and its holding above the W H3 level. We should see a potential move up towards 163.00 zone today. However, a move above next week could push the pair even higher towards 136.89. It is important that the price stays above W L3 134.10 in order for bulls to further dominate.

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

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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