EUR/GBP Bullish ZigZag Continues at the POC zone

Hi traders,

The EUR/GBP has formed a bullish zigzag that could spike the price to the upside, targeting 0.8835-50.

The POC zone is additionally supported by triple confluence. It consists of D L3 camarilla pivot, higher TF momentum and reversal outside-inside BB close. EMA is also supportive for the bulls. Emerging ZigZag pattern at the POC zone 0.8780-90 targets 0.8835 and if the price closes above 0.8835, then 0.8850 is the final daily target. Have in mind that the pip value of EUR/GBP is higher than other pairs. The ATR (14) is not that high but it is compensated by higher pip value.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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