By Admiral Markets
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)
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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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Article by Admiral Markets
Source: GBP/USD Bullish Confluence Targeting 1.4010 Zone
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