The GBP/USD is heavily affected by the BREXIT news. Each time some news is released we tend to see a lot of volatility in the cross. Algos reacted to the news very quickly, but shortly after the price corrected itself. Try to keep the risk under control, as the GBP is very volatile. Technically, the pair is in an uptrend. The POC zone 1.2982-92 could reject the pair to the upside targeting 1.3040 first. Above 1.3040 targets are 1.3064, 1.3098, and 1.3154. However a drop below 1.2960 could lead to a retest of 1.2908 – an important support.
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 - Monthly Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Monthly Camarilla Pivot (Daily Support)
D L4 – Monthly H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect the price to react - aka the entry zone)This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.