GBP/USD Bullish but Sellers Wait at 1.2707

The GBP/USD is where sellers could be. At this point the price is bullish but watch for M H4 rejection if the price gets closer.

ATR high and M H4 are making a confluence. We can also see historical sellers from the zone 1.2700-10 and if the price drops that will be considered a retracement in the uptrend. Targets are 1.2640 and 1.2563. Only a break and 4h/daily close above 1.2710 could be considered a continuation sign with the targets at 1.2736 and 1.2833.

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

For a look at all of today’s economic events, check out our economic calendar.

 

 

This article was originally posted on FX Empire

More From FXEMPIRE:

• Another False Bearish Breakout on Global Indices

• Healthy Start for Europe, G4S Jumps

• Risk Appetites Firm, but the Greenback is Mixed

• Gold Prices Could hit $1900, Solid Macros from China Help’s Yellow Metal’s Upside

• Asia-Pacific Shares Climb Toward Five-Year High

• EUR/USD Daily Forecast – Euro Holds Near Month Old Resistance