EUR/GBP AP Channel Points North

2 min read
tarantula fx

tarantula fx

Head of Trading

Bullish bias on the EUR/GBP suggests the pair will move to the upside provided that 0.8870 holds. The price is trapped within the AP channel clearly inclined to the upside. The environment for the pair is still positive as long as the pair keeps a steady bullish zig-zag within the channel boundaries that are above the W L4 channel low.

POC Zone 0.8905-25 ( W L3, EMA89, bullish order block) could reject the price towards 0.8960, 0.9020 and 0.9080. Using profit stops is suggested due to high risk regarding the Spain situation. Ideally for bulls to dominate the pair should stay above the W L4.

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)

PPR – Progressive Polynomial Channel

AP -Andrew’s Pitchfork

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)


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