By Admiral Markets
Source: Admiral Markets MT5 with MT5SE Add-on
The GBP/USD has broken through a trend line that marks a possible continuation of a bullish move. The POC zone is 1.3165-85. The price needs to make a close above 1.3209 to proceed further up. Intraday target zone is 1.3220-30 while the extension on a positive bullih momentum can lead up to 1.3260. If the trend persists we could see 1.3311 by the end of the week.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
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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)
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks
Article by Admiral Markets
Source: GBP/USD Ascending Trend Line Breakout
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
