The GBP/USD has been making a progressive trend move towards 1.3310. However, here is still resistance out there that needs to be taken away. The pair has formed W bullish pattern and the POC zone is wider today due to Friday's price action and confluence tools. 1.3195-1.3225 is the POC zone (W, Order block, ATR pivot, D L3, trend line, EMA89) and we might see another spike towards 1.3260 zone. However H1 momentum or 4h close above W H3/D H4 1.3272 is needed for a further push towards 1.3310 and 1.3327 eventually. A move below 1.3150 will put a pair in neutral territory again.
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W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
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W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
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D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
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D L3 – Daily Camarilla Pivot (Daily Support)
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D L4 – Daily H4 Camarilla (Very Strong Daily Support)
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POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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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