EUR/GBP Waiting Zone

2 min read
Davinwu

Davinwu

Author

Dear Traders,

The EURGBP seems to be gaining bullish momentum sharply in the recent events of BREXIT. The price is currently above the W L3 camarilla pivot.

Price is now overextended, while we expect further bullish momentum, a good point of entry would be 0.8549- 0.8559 POC zone. 0/8, D H3, and the 50 Fib make a confluence of support so the bulls could spike up the price from this POC zone. The bull trend is beginning with huge bull candles in H4, therefore we plan to buy retracements. There is also more room until next resistance on higher time frames. If we see a bounce, targets are 0.8606 [2/8 // W H3] and 0.86715 [4/8 W H4]. Ideally, the pair should stay above 0.8525 if the bulls want to dominate.

The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Davin Wu aka Ambition FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of