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Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
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​GBP/USD Regular or a Runaway Gap?

September 03, 2018 20:36

GBP/USDSource: Admiral Markets MT5 with MT5SE Add-on - 03.09.2018 09:36 AM

The GBP/USD has formed a retail gap after some Brexit comments during the weekend. The problem is that the gap is still open and we don't know if it is the regular or a runaway gap. However, the channel is still inclined to the upside and the 1.2890-96 zone is crucial. A close below should the target of 1.2837, while the rejection from the zone could close the gap. Bullish continuation is only possible above 1.3015, while bearish should be dominating below 1.2837.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 - Monthly Camarilla Pivot (Very Strong Daily Resistance)

M L3 – Monthly Camarilla Pivot (Daily Support)

M 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.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.