GBP/USD Uptrend Continuation If the Price Stays Above 1.3060

The GBP/USD is in uptrend and we can see the POC zone clearly below the price. The POC 1.3075-1.3100 might look a bit stretched but that happens due to many individual confluence points that are found within the zone – W L3, ATR pivot, D L3, trend line, EMA89, 38.2 fib + ATR (14) has slightly increased.

If we see a retracement in the zone, the price might bounce towards 1.3157 and 1.3180. Only above 1.3180 we will see another bullish wave towards 1.3230. As long as the price stays above 1.3060 bulls will have the upper hand, else below 1.3060, short term stops might be triggered so 1.3025 will be possible.

    • 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)
GBP/USD 1H Chart
GBP/USD 1H Chart

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

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Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.