GBP/USD Bullish Confluence Targeting 1.4010 Zone

Marec 16, 2018 10:03

Source: Admiral Markets MetaTrader 5 with the MT5 Supreme Edition Add-on

The GBP/USD is bouncing from the POC zone that has been formed within 1.3920-30 price range. If it manages to stay above the EMA89 1.3940 it should be strongly bullish. First target is 1.3974. Above, we might see 1.4004-1.4010 W H5 resistance.

As long as the price holds above today's POC zone, bulls should be safe. However, today is Friday and we might see profit taking later in the day, leading to a possible 2-way price action movement.

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

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)

Best wishes,

Nenad

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