The GBP/USD has formed a bearish trend line below D L3 confluence with Red Levels. At this point, we can also see the two POC which could tank the price.
1.2470-80 is the first POC zone. If the price doesn’t reject, it could go higher towards POC2 1.2510-20. Watch for signs of reversal within the POCs. Targets are 1.2450 and 1.2424. Bears are dominating as long as the price is kept below W H3 and Red level confluence below 1.2557. Only if the rate spikes above 1.2557, we will see the trend changing to bullish.
The analysis has been done with the CAMMACD.MTF template.
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