GBPUSD, H4 breaking out of our Pivot point, potential for drop.
Description:
Price is attempting to break out of our Pivot point at 1.37506, in line with 127%, 78.6% fibonacci extension, and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.36509, in line with 88%, -61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Pivot: 1.37506
Why we like it:
127%, 78.6% fibonacci extension, and horizontal graphical overlap
1st Support: 1.36509
Why we like it:
88%, -61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.38345
Why we like it:
61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is attempting to break out of our Pivot point at 1.37506, in line with 127%, 78.6% fibonacci extension, and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.36509, in line with 88%, -61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Pivot: 1.37506
Why we like it:
127%, 78.6% fibonacci extension, and horizontal graphical overlap
1st Support: 1.36509
Why we like it:
88%, -61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.38345
Why we like it:
61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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