By Admiral Markets
The GBP/USD has formed a Cup with Handle bullish pattern that suggests a possible uptrend continuation. We could see a bounce from 1.3860-70 zone and 1.3848 if retracement is slightly broader. For bulls to remain in control, the best would be that price is held above 1.3835-40 zone. Targets are 1.3893 and 1.3938. However its so-called “NFP” Monday today so it’s good to use the lower risk than usual when trading.
W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)
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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 – 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)
Article by Admiral Markets
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