The GBP/USD is trying to make a close below a trend line and 38.2 fib cross at 1.3180. We might see a rejection below the trend line or a spike above if the trendline and 38.2 holds. Next few candles will be decisive.
However, the pair is still capped below 1.3250. As long as 1.3250 holds the pound should go down. 1.3145 and 1.3125 are targets. 4h or daily close below 1.3125 targets 1.3064. At this point, pay attention to 4h close below 1.3180 and or rejection from POC (atr pivot, 50.0 fib, order block) 1.3200-1.3225. If the pair moves above 1.3250 we might see a push to 1.3310.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
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)
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