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GBPUSD possibly targeting 1.4855

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBPUSD failed to make a sustained move higher after a good UK data which indicates that the bearish trend is intact and that there are interests to sell the pair on rallies. Technically the pair is in downtrend and we can see a bullish divergence at L4 camarilla DPP so we could see a retrace for next leg of selling. First POC is BR POC which stands for Breakout-Retest Point Of Confluence. 1,4955-65 is the zone which could reject the pair towards daily lows and ultimately towards L5 daily

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