GBP/USD Higher Highs And Higher Lows For Uptrend Continuation

The GBP/USD is in a strong uptrend, that was marked by breaking out from 1.3000 psychological level. After big round number break, it is normal that we see a retracement. Currently we have 2 POC and the retracement could happen towards either of POCs after which we could see another push to the upside targeting 1.3070 and 1.3120. Additionally, bullish order blocks are slightly above the first POC zone so we could see some buying directly from 1.2980.

First POC 1.2950-64 (W L3, 50.0,ATR pivot) could spike the price if W L3 camarilla level holds. If it breaks we should see a deeper retracement towards 1.2920-35 (W L4, trend line confluence, 78.6). Both POCs (Point Of Confluence aka Entry Zone), could provide buying opportunities and could spike the price higher.

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets