#GBPUSD, H4 is approaching our Pivot point, potential for a rise
Description:
Price is approaching our Pivot point at 1.39014, in line with 38.2%, 61.8% fibonacci retracement, moving average support and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40033, in line with -27%, 61.8% fibonacci retracement and horizontal graphical overlap. Note that price is above the moving average, in line with our bullish analysis.
Pivot: 1.39014
Why we like it:
38.2%, 61.8% fibonacci retracement, moving average support and horizontal graphical overlap
1st Support: 1.38338
Why we like it:
78.6%, 127% fibonacci retracement and horizontal swing low support
1st Resistance: 1.40033
Why we like it:
-27%, 61.8% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.39014, in line with 38.2%, 61.8% fibonacci retracement, moving average support and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40033, in line with -27%, 61.8% fibonacci retracement and horizontal graphical overlap. Note that price is above the moving average, in line with our bullish analysis.
Pivot: 1.39014
Why we like it:
38.2%, 61.8% fibonacci retracement, moving average support and horizontal graphical overlap
1st Support: 1.38338
Why we like it:
78.6%, 127% fibonacci retracement and horizontal swing low support
1st Resistance: 1.40033
Why we like it:
-27%, 61.8% fibonacci retracement and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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