Advertisement
Advertisement

GBP/USD Ascending Scallop Pattern Mark the Uptrend Continuation

By:
Nenad Kerkez
Published: Mar 9, 2020, 08:40 GMT+00:00

The GBP/USD is in a strong uptrend. The market is bullish and the ascending scallop should provide uptrend continuation.

GBP/USD Ascending Scallop Pattern Mark the Uptrend Continuation

Dear Traders,

The GBP/USD is in a strong uptrend. The market is bullish and the ascending scallop should provide uptrend continuation.

The POC zone is bullish for the pair. If the GBP/USD retraces back to 1.3050-70, we should see another bounce up. However, we might also see a continuation above W H3 1.3130. In that case this could be the Retest-Continuation pattern. Targets are 1.3200 and 1.3216. Even if we see a drop towards 1.2957 somehow, the pair will still be bullish.

undefined

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.

Advertisement