GBP/USD at resistance next move is decisive
|The GBP/USD has made a bounce towards M L5 resistance. Within the POC we can see the triple confluence.
M L5 camarilla pivot, HTF Middle Bollinger Band Line, Wizz and ATR are making a strong confluence of resistance. 1.2300-2360 is the zone where we should expect rejections. 1.2155 is the first target. Below we will probably see 1.2058 and 1.1992. However, If the price reject at any of those levels, it will bounce to the POC zone again. Above 1.2360, the price is bullish and the next level is 1.2440.
The analysis has been done with the CAMMACD.Core System.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.