The EUR/GBP is still bullish while the price is above the order block 0.8900. However, if the bulls want to dominate, the price should not drop below W L3–>
0.8885-8900 is the POC zone. If the price makes its way above the zone we might expect a continuation towards 0.8970 with 0.8940 as the interim target. The retracement has already started so we will see if the price will get to the POC and bounce. However, a drop below the W L3 camarilla pivot – 0.8870 will likely wake up bears and the target is 0.8839 before the W L5 is hit – 0.8817.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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