GBPUSD, H4 is approaching our Pivot point, potential for a rise
Description:
Price is approaching our Pivot point at 1.33203, which is in line with our 61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area. We could potentially see price rise from this level, towards our 1st resistance level at 1.36498 in line with 61.8% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is currently trending above the Ichimoku cloud and Stochastic is approaching the 28% level where price has previously reacted.
Pivot: 1.33203
Why we like it:
61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area
1st Support: 1.31308
Why we like it:
127% fibonacci extension and horizontal swing-low support.
1st Resistance: 1.38498
Why we like it:
61.8% fibonacci extension and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.33203, which is in line with our 61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area. We could potentially see price rise from this level, towards our 1st resistance level at 1.36498 in line with 61.8% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is currently trending above the Ichimoku cloud and Stochastic is approaching the 28% level where price has previously reacted.
Pivot: 1.33203
Why we like it:
61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area
1st Support: 1.31308
Why we like it:
127% fibonacci extension and horizontal swing-low support.
1st Resistance: 1.38498
Why we like it:
61.8% fibonacci extension and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
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