GBP/USD Bullish Above 1.2850

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Updated: Sep 6, 2018, 08:13 UTC

The GBP/USD has formed a strong marubozu candle, retesting 1.2980 zone. At this point we might see another bounce as the POC zone is just below the

The GBP/USD has formed a strong marubozu candle, retesting 1.2980 zone. At this point we might see another bounce as the POC zone is just below the current price. Potential buyers are within 1.2860-1.2885 but pay attention to 1.2905 too. First target us 1.2959 followed by 1.2980 and 1.3015. Only a 4h close above 1.3015 should target 1.3073. However, if 1.2850 is lost bears might dominate, targeting 1.2796.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Monthly Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Monthly Camarilla Pivot (Daily Support)
D L4 – Monthly H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect the price to react – aka the entry zone)

Best wishes,

Nenad

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