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GBP/USD Strong Bullish Advance

February 16, 2018 06:16

Source: Admiral Markets MT5

The GBP/USD is making a strong bullish advance towards 1.4160 level. The POC zone 1.4040-1.4070 (38.2, D L3/L4, channel line, W H4) should reject the pair in the case of retracement. As long as the pair is kept above D H3, the bias is bullish. Targets are 1.4159 and 1.4210 in the case of breakout. Have in mind, that today is Friday so we might see a profit taking later in the day.

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)

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