HomeContributorsTechnical AnalysisDaily Technical Analysis: GBP/USD Flat/Range Zone Has Been Broken

Daily Technical Analysis: GBP/USD Flat/Range Zone Has Been Broken

The GBP/USD has broken, the range/flat zone to the downside, going below W L5 camarilla pivot. At this point we see a retracement towards 1.2900 zone. The retracement happened after the good UK data namely wages and jobs. However the trend is still in place and the spike towards the POC (D H4, Trend line, ATR high, W L4, order block) 1.2930-40 could possibly be sold towards 1.2830 and 1.2815. Breakout below 1.2795 could further weaken the price to 1.2750.

admiral
admiralhttps://www.elitecurrensea.com/
Elite CurrenSea Accessible Forex Trading Systems & Education With over 30 years of combined trading experience, we design, test, and provide successful Forex, CFDs & Crypto trading systems and solutions for retail and institutional traders alike.

Featured Analysis

Learn Forex Trading