Source: Admiral Markets MT5 with MT5SE Add-on
The GBP/USD has broken the bearish consolidation below 1.3070 level. A retracement within 1.3055-3085 could spark a new wave of sellers. The POC zone is marked by two descending trend lines and EMA89. If the price gets in the zone, we should see a rejection towards 1.2959 and 1.2917. A h1 or h4 close below 1.2947 without rereacement to the POC zone could also ignite selling towards 1.2917.
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).
