GBP/USD is Bearish Below W H4 Camarilla Pivot

The GBP/USD has been sold on rallies recently as the Brexit talks continue to weight on the pound. Technically the pair is very close to the POC. 1.3365-89 is the POC zone ( W H3, EMA89, order block, 61.8 and ideally the pair should stay below the W H4 – 1.3409 to remain bearish. However, it is Monday and we might see some up-and-down price action until the price settles down a bit. Targets are 1.3303 and if we see a clear break below, then 1.3273 and 1.3247 could be next.

• W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
• D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
• D L3 – Daily Camarilla Pivot (Daily Support)
• D L4 – Daily H4 Camarilla (Very Strong Daily Support)
• POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Follow @TarantulaFX on twitter for latest market updates

Sign up for Live Trading Webinars with Nenad Kerkez T

Connect with Nenad Kerkez T on Facebook for latest market update

Read the Camarilla trading blog