GBP/USD Bullish as Long as the Price is Above 1.2800
Dear Traders,
The GBP/USD is still bullish but the lack of momentum might provide some profit taking and the price could drop. However, T-89 pattern might still give the price the bullish outlook.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
The price is still above 1.2800 which indicates bullish strength. However, due to general lack of momentum in the FX markets, the price is mostly ranging. If the price manages to hold above 1.2800 we should see upwards continuation towards 1.2856, 1.2873, 1.2911 and 1.2950 as the final target. However, a drop below 1.2795 could go for 1.2730 and 1.2680.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea
