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Technical Analysis
Daily Technical Analysis by Admiral Markets
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[QUOTE="Admiral Markets Group, post: 133919, member: 37217"] GBP/USD Consolidating But Pay Attention To POC Zone [IMG]https://s28.postimg.org/vhwzo6631/5d675691-2aa9-43e1-919a-dfa622c62ed6.png.jpg[/IMG] The GBP/USD is consolidating within the rectangle pattern. The consolidation is due to the [URL='https://admiralmarkets.com/analytics/forex-calendar']US CPI[/URL] data at 12:30 GMT. Traders need to pay attention to 1.2992 the X-cross of a trend line and D H3 camarilla pivot. Move above the trend line could possible spike the GBP/USD to POC zone 1.3040-60 (D H5, Rectangle top, ATR projection high, 50.0 fib, Order block) where we might see fresh sellers. The price should reject towards 1.2992 and 1.2940. Only below 1.2940 we should see the continuation towards D H5/ ATR low 1.2910. Follow [URL='https://twitter.com/TarantulaFX']@TarantulaFX[/URL] on twitter for latest market updates Connect with [URL='http://www.facebook.com/tarantulafx']Nenad Kerkez T[/URL] on Facebook for latest market updates. W L3 - Weekly Camarilla Pivot (Weekly Interim Support) W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance) W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance) M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance) M L3 – Monthly Camarilla Pivot (Monthly Support) M L4 – Monthly H4 Camarilla (Very Strong Monthly Support) POC - Point Of Confluence (The zone where we expect price to react aka entry zone) [I]Risk disclosure: Forex and CFD trading carries a high level where losses can exceed your deposits. This material is does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Please note that the trading analyses which refers to past performance, may change over time. No representation is given as to the accuracy or completeness of the information and any person acting upon it does so entirely at their own risk. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.[/I] [/QUOTE]
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