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GBP/USD Fibonacci Confluence at D3 Camarilla

By Admiral Markets

The GBP/USD is making a continuation trade possible with the consolidation below the D H3 camarilla pivot with strong fibonacci confluence. Session Recap webinar presented more than 50 pips on the table with the GBP/USD setup. At this point the POC zone ( 50.0 fib, D H3, EMA89, ATR pivot) 1.3125-1.3145 could reject the price towards 1.3080. If the price breaks 1.3080, further bearish momentum could target 1.3050, 1.3020 and 1.2995. For this scenario to succeed the price needs to stay below 1.3180.

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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Article by Admiral Markets

Source: GBP/USD Fibonacci Confluence at D3 Camarilla


Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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