GBP/USD Bullish Confluence Targeting 1.4010 Zone

Marts 16, 2018 11:03

Source: Admiral Markets MetaTrader 5 with the MT5 Supreme Edition Add-on

The GBP/USD is bouncing from the POC zone that has been formed within 1.3920-30 price range. If it manages to stay above the EMA89 1.3940 it should be strongly bullish. First target is 1.3974. Above, we might see 1.4004-1.4010 W H5 resistance.

As long as the price holds above today's POC zone, bulls should be safe. However, today is Friday and we might see profit taking later in the day, leading to a possible 2-way price action movement.

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

Follow Admiral Markets on Facebook – @AdmiralMarkets on Twitter – for the latest market updates.


Live Forex webinars free


Brīdinājums par riskiem

CFD ir pietiekami sarežģīti instrumenti un, izmantojot paaugstinātu kredītpleca likmi, var radīt ātrus zaudējumus! 83% tirdzniecības kontu, kuros klienti ar statusu "Privāts klients" tirgo CFD ar šī pakalpojuma sniedzēja starpniecību, uzrāda zaudējumus. Jums vajadzētu pārliecināties, vai pilnībā saprotat CFD tirdzniecības pamatprincipus un vai varat atļauties riskēt zaudēt savu naudu.