The GBP/USD is in a strong uptrend that is clearly visible as higher high/higher low pattern in a sturdy zig-zag motion. This is technical uptrend is targeting W H3 1.4214-1.4230 and if daily candle closes above we might see 1.4298 in upcoming days as I showed in the Fxstreet.com Forecast Poll. Retracement towards 1.4115-30 (POC) could possibly be used for new long positions. Even a drop towards 1.4030-45 could still be used for buying the dip as the uptrend is strong as long as the price is kept above M H3- 1.3902.
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 – Daily Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Daily Camarilla Pivot (Monthly Support)
M L4 – Daily H4 Camarilla (Very Strong Monthly Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
