GBPUSD, H4 is under our Pivot point, potential for drop.
Description:
Price is under our Pivot point at 1.39402, in line with 23.6% fibonacci retracement and horizontal graphical resistance. Where we could potentially see a drop from our pivot towards our 1st support level at 1.38280, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Pivot: 1.39402
Why we like it:
23.6% fibonacci retracement and horizontal graphical resistance
1st Support: 1.38280
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.40091
Why we like it:
61.8% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is under our Pivot point at 1.39402, in line with 23.6% fibonacci retracement and horizontal graphical resistance. Where we could potentially see a drop from our pivot towards our 1st support level at 1.38280, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Pivot: 1.39402
Why we like it:
23.6% fibonacci retracement and horizontal graphical resistance
1st Support: 1.38280
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.40091
Why we like it:
61.8% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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