Daily Analysis | EUR/GBP | 12 of April

Posted 12 April, 2018

Source: Admiral Markets MT5 with MT5SE Add-on

The EUR/GBP has been trapped within the narrow range of W L3 and W H3 Pivot. Slow price action indicates that we might expect a breakout when volatility gets higher. At this point, the price is stalling between the two trend line diagonals that also intersect essential pivot points. Break of W H3 – 0.8737 should target 0.8760 and possibly 0.8792. However a break of D L3 – 0.8710 should target 0.8680. The EUR/GBP ATR is low, so pay attention to breakouts and corresponding targets.

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)
Best wishes,
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                                                                                                                 By Nenad Kerkez | Admiral Markets


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