GBPUSD, H4 is approaching our Pivot point, potential for a rise.
Description:
Price is approaching our Pivot point at 1.34694, where we could potentially see price rise towards our 1st resistance level at 1.36246. It is worth noting that price is trending above the EMA (55), which is showing bullish pressure in line with our analysis.
Pivot: 1.34694
Why we like it:
50%, -68% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1.33719
Why we like it:
78.6% Fibonacci retracement, 127% Fibonacci extension and horizontal graphical support area.
1st Resistance: 1.36246
Why we like it:
161.8%, -27% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical swing high resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.34694, where we could potentially see price rise towards our 1st resistance level at 1.36246. It is worth noting that price is trending above the EMA (55), which is showing bullish pressure in line with our analysis.
Pivot: 1.34694
Why we like it:
50%, -68% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 1.33719
Why we like it:
78.6% Fibonacci retracement, 127% Fibonacci extension and horizontal graphical support area.
1st Resistance: 1.36246
Why we like it:
161.8%, -27% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical swing high resistance.
Trading FX & CFDs carries high risk.
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