GBP/USD Potential for a New Rejection Near the Confluence
The GBP/USD has formed a POC zone and we see that the price is retracing. If the POC Is reached we should see a probable rejection.
1.2210-25 is the POC zone. There is a lot of confluence there, including the Wizz 0 and W L3 camarilla pivot. A bearish reversal candlestick pattern should tank the price down to 1.2153 and 1.2116 that will be a retest of W L3. Watch for the POC zone only if the price makes it above 1.2153, – a bearish order block.
However, a close above 1.2244 will make the GBP/USD neutral again and bearish trend will lose the steam.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX