GBP/USD is Bearish Below W H4 Camarilla Pivot

December 18, 2017 08:57

The GBP/USD has been sold on rallies recently as the Brexit talks continue to weight on the pound. Technically the pair is very close to the POC. 1.3365-89 is the POC zone ( W H3, EMA89, order block, 61.8 and ideally the pair should stay below the W H4 - 1.3409 to remain bearish. However it is Monday and we might see some up-and-down price action until the price settles down a bit. Targets are 1.3303 and if we see a clear break below, then 1.3273 and 1.3247 could be next.

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)

Follow @TarantulaFX on twitter for latest market updates

Connect with Nenad Kerkez T on Facebook for latest market update

Read the Camarilla trading blog

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.