As we already know, I was a bit bullish on the GBP crosses, mostly on the GBP/USD. At this point we can see that the first target has been reached. Continuation is possible.
1.2350-64 zone is the first POC. The 2nd POC zone comes within 1.2280-1.2305. If the pair gets to any of the zones we should see further buying. However, a close above 1.2410 in 4h timeframe could mean a continuation of the bullish trend towards 1.2445 and 1.2488 where the target projections are. I don’t see bears unless the pair closes below 1.2280 on 4h timeframe.
The Analysis has been done with the CAMMACD.Core and Sit Systems
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This article was originally posted on FX Empire
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