GBP/NZD Uptrend Intact

May 15, 2017 12:25

The GBP/NZD has almost closed the retail gap with a slow grind towards D L3 that stands in a confluence with the gap. At this point the price is getting close to the POC zone 1.8685-1.8705 (D L3, Retail gap close, 78.6, bullish order blocks, ATR pivot). As long as 1.8608 support holds we might see a rejection towards 1.8870 ATR/D H4 confluence. Only above 1.8880 the price might go for a full retest of 1.8969.

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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)