The GBPUSD failed to make a sustained move higher after a good UK data which indicates that the bearish trend is intact and that there are interests to sell the pair on rallies. Technically the pair is in downtrend and we can see a bullish divergence at L4 camarilla DPP so we could see a retrace for next leg of selling. First POC is BR POC which stands for Breakout-Retest Point Of Confluence. 1,4955-65 is the zone which could reject the pair towards daily lows and ultimately towards L5 daily support - 1.4855. If the pair proceeds higher than BR POC and we see a 4 hour close above L3 zone- 1.4965 we could see a retracement towards positional POC (DPP.H3,E89,historical sellers) - 1.5015-35. Positional POC is used for intraday swings and if the price gets there another leg of selling should tank the pair towards 1.4955 and 1.4855.
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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