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GBP/USD Bulls are Relentless

By:
Nenad Kerkez
Published: Jul 29, 2020, 07:45 UTC

The GBP/USD is in a strong uptrend. If the H1 or H4 closes above 1.2961, the doors to 1.3000 will be open.

GBP/USD

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The GBP/USD is in a strong uptrend. If the H1 or H4 closes above 1.2961, the doors to 1.3000 will be open.

The POC zone 1.2845-60 should provide bounce for new buyers. If we see a retracement, the POC zone is where buyers are. However, as the trend is strong, we might see a bounce at 14.6 fib. The first target is 1.2961, followed by 1.2992 and 1.3045. If the market gets to DH4 and above, we should see some retracement due to profit taking.

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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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