EUR/GBP Ascending Trend Line Confluence

EUR/GBP has formed an ascending trend line confluence that is suggesting a further uptrend continuation. The POC zone 0.8900-10 is a possible bouncing spot where fresh buyers could turn the price up. Deeper retracement might target 0.8885-95 and that is also the zone where buyers might be waiting. The first target is 0.8930 followed by 0.8962 on a successful break of 0.8935.

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• 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

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This article was originally posted on FX Empire

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