EUR/GBP Still Bullish While the Price is Above the D L4 Pivot

Dear Traders,

The EUR/GBP has been in a retracement mode, but if it holds above D L4 camarilla pivot point, we should see a continuation.

The POC zone 0.8930-40 could see the fresh buyers emerging due to the confluence of W L3, H1/H4 Bands and historical daily support. If the price closes above 0.8940 we should see 0.8959 and 0.8973 as next targets. However, if the price drops below the ATR projection low, bears could get the upper hand and the pair won’t be bullish anymore. Ideally for bulls, the price should holds above the D L4 at 0.8923.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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