GBP/USD Two Important Zones

March 05, 2018 09:01

The GBP/USD started to reject from 1.3760 zone, and we see a potential for further bullish price action. We have two possible zones where price could spike. POC (m) is the mini POC zone – 1,3760-70. Near-term history suggests buyers within the zone, and it is also a strong intraday support. POC (L) is a weekly support level, and if the price retraces to 1.3700-25, there is a lot confluence that should push the price further to 1.3760-70 and possibly up. Above 1.3770 targets are 1.3815, 1.3831 and 1.3860. 1.3880-95 is the zone where short sellers should appear. Successful rejection from POC (S) could see a retest of 1.3825.

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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