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GBP/USD Potential Bullish Bounce at the POC

By:
Nenad Kerkez
Published: Jul 16, 2020, 07:27 UTC

The GBP/USD has bounced towards 1.2670 yesterday and now we can see an expected retracement.

GBP/USD

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The GBP/USD has bounced towards 1.2670 yesterday and now we can see an expected retracement.

If the pair hits the POC zone we might see another bounce. W L4 1.2505 is the potential bouncing spot along with 1.2450. Rejections should be targeting 1.2628 and 1.2677. A break above the W H3 will target 1.2707. However, first is to watch the W L4 and any bounce which might happen there.

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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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