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GBP/USD Strong Zone is Supporting the Bulls

By:
Nenad Kerkez
Published: May 4, 2021, 08:33 UTC

The GBP/USD has made a strong retracement and now the price is exactly at the 61.8 fib retracement of the last swing.

GBP/USD Strong Zone is Supporting the Bulls

In this article:

The GBP/USD has made a strong retracement and now the price is exactly at the 61.8 fib retracement of the last swing.

W H3/D H3 rejection is expected as it constitutes the POC zone 1.3850-70 We should see a move towards the W H4 – 1.3915. A successful retest of 1.3938 is also possible. In that case look for a possible breakout or a bounce. If it happens 1.3975 is next. Bulls should be safe as long as the price is above 1.3820.

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Cheers and safe trading,

Nenad

 

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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