GBP/USD Uptrend Still Intact

January 30, 2017

By Admiral Markets

The GBP/USD is currently undergoing a technical retracement and we can see the POC zone lurking below L3 camarilla weekly pivot. In the case of further intra day retracement traders should pay attention to POC zone 1.2440-1.2465 (61.8, L3, ATR low, inner trend line, bullish order block). The POC zone is wider due to higher ATR. Rejections might target 1.2520 and 1.2600. A strong 1h momentum or 4h close above 1.2600 should target 1.2710 resistance. Have in mind that this bullish scenario persists as long as 1.2375 holds its ground.

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Article by Admiral Markets

Source: GBP/USD Uptrend Still Intact

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