Although the GBP/USD is bearish according to Pivot Point structure, it has gained a bullish momentum. That is best reflected by the V Shaped reversal at the bottom, just below W L4 camarilla pivot. At this point, we can spot two POC zones. The first POC zone 1.3270-90 and the second POC zone 1.3215-30. If the pair retraces to any of the zones, we should see a bounce. However, a bullish candle close above D H3 should provide further momentum to 1.3343. Above 1.3343 we might see a breakout to 1.3410 in upcoming days.
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)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
