GBP/USD Breakout is Targeting D H4 and W H5 Camarilla

GBP/USD Technical Analysis

• GBP/USD is making a breakout above MH3
• Close above the level should be targeting W H5
• The GBP is strong
• Inverted/Mirrored cup with the handle pattern

H4 CHART GBP/USD

1. The handle
2. Swing low
3. The cup breakout
4. Target

The GBP/USD has formed inverted cup with handle pattern. We should see the breakout continuation. Above 1.3550 the price should be moving up. The first target is 1.3571. If the price breaks D H4, next target is W H5 1.3598. The trend is bullish and the GBP is strong. Dollar weakness is apparent now. We are in the NFP week and today’s ADP will also be important for the price action and targets. Look for bullish outcome and the bull’s strength.

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Cheers and safe trading,

Nenad