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GBP/USD Should Proceed Down If the Price Gets Below Weekly Pivot Point

By:
Nenad Kerkez
Published: Dec 27, 2018, 11:47 UTC

Hi traders, The GBP/USD has been ranging but recent rejections suggest we might see a bearish continuation on a 4h / D1 close below Weekly PP. Technically

GBP/USD Should Proceed Down If the Price Gets Below Weekly Pivot Point

Hi traders,

The GBP/USD has been ranging but recent rejections suggest we might see a bearish continuation on a 4h / D1 close below Weekly PP.

Technically the price has just closed below Weekly pivot and trend line confluence while still being capped below W H3 camarilla pivot. This is suggesting a further continuation down if the price manages to stay below weekly pp. Targets are 1.2594 and 1.2553. Only a 4h close above W H3 – 1.2680 will be bullish for the GBP/USD as the POC zone 1.2660-75 is another rejection point where fresh sellers are waiting.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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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