By Admiral Markets
The EUR/GBP has recently made a u-turn after the V shaped reversal formed and pushed the price from the D L4 support. At this point the POC zone is 0.8790-0.8805 (D L3, EMA89, ATR pivot, 50.0, W H3, historical buyers) and if the price gets into the zone again, we might see another push to the upside targeting 0.8833. If the price manages to stay above the inner trend line at 0.8820, I expect D H3 retest -0.8833 and hourly close above D H3 should give another positive impulse to the pair that with targets at 0.8853 and 0.8885.
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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
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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
Source: EUR/GBP Positive Momentum Above 0.8833
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