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GBP/USD Uptrend Still Intact

By Admiral Markets

The GBP/USD is currently undergoing a technical retracement and we can see the POC zone lurking below L3 camarilla weekly pivot. In the case of further intra day retracement traders should pay attention to POC zone 1.2440-1.2465 (61.8, L3, ATR low, inner trend line, bullish order block). The POC zone is wider due to higher ATR. Rejections might target 1.2520 and 1.2600. A strong 1h momentum or 4h close above 1.2600 should target 1.2710 resistance. Have in mind that this bullish scenario persists as long as 1.2375 holds its ground.

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Article by Admiral Markets

Source: GBP/USD Uptrend Still Intact


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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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