GBP/USD Cup with Handle Bullish Pattern for Uptrend Continuation

March 12, 2018 08:44

Source: Admiral Markets MT5 with MT5SE Add-on

The GBP/USD has formed a Cup with Handle bullish pattern that suggests a possible uptrend continuation. We could see a bounce from 1.3860-70 zone and 1.3848 if retracement is slightly broader. For bulls to remain in control, the best would be that price is held above 1.3835-40 zone. Targets are 1.3893 and 1.3938. However its so-called "NFP" Monday today so it's good to use the lower risk than usual when trading.

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

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)

Best wishes,

Nenad

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