Forex

GBPUSD making a bearish zig zag towards 1.5270

July 9, 2015

1 min read

tarantula fx

Head of Trading

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GBPUSD has broken through the rectangle range and it is making a bearish zig zag pattern. We can spot a 3 – touch trend line making a confluence – POC at 1.5410-30 with 61.8 and H4 camarilla. Adding to that we can spot a bearish pin bar rejection at the zone and if the pairs sustains current momentum it should target 1.5325 then 1.5270.. On a strong momentum push or 4H close below 1.5270, 1.5220 is next. For this scenario to be valid a previous rectangle low should stay untouched ( 1.5530 )

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read the original article on AdmiralMarkets.com

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