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GBP/USD Up if 1.2280 Zone Holds

By:
Nenad Kerkez
Updated: May 12, 2020, 07:54 UTC

The GBP/USD dropped below 1.2300 again during the Tokyo session. However, we can see that the market is trying to make a bounce.

GBP/USD Up if 1.2280 Zone Holds

In this article:

Dear Traders,

The GBP/USD dropped below 1.2300 again during the Tokyo session. However, we can see that the market is trying to make a bounce.

The GBP/USD is still in ranging mode. However, the market needs to close above W L3 with 4h candle for another bullish momentum – 1.2344. A close above might initiate buyers towards 1.2405 and 1.2466. For bullish scenario to be valid 1.2280 needs to hold, else we might see a drop below W L4 towards 1.2220.

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The Analysis has been done with the CAMMACD.Core and Sit Systems

 

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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