GBP/USD Red Level & Camarilla Confluence Should Provide Fresh Selling Opportunities

Nenad Kerkez Top-XE

The GBP/USD is under a retracement. I am watching 1.2495-1.2505 area for fresh selling opportunities.

A reversal candlestick pattern within the POC zone should provide selling opportunities. We can clearly see the confluence between Red Levels ™ and camarilla pivots. Additionally, we can also spot the ATR high. The confluence within the POC is strong and a rejection should happen. Targets are 1.2472, 1.2452 and 1.2390. However, as always, it is advised that traders move their stops in profit, close to important S/R levels due to intraday volatility and possible Brexit news.

GBPUSD Current Trading Positions

Sell 57%

Buy 43%

Avg Sell Price 1.2279

Avg Buy Price 1.2482

Liquidity Distribution

The analysis has been done with the CAMMACD.MTF template.

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Author

Nenad Kerkez

Top-XE

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