The GBP/USD has made a bounce towards M L5 resistance. Within the POC we can see the triple confluence.
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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.
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The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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