GBPUSD, H4 reversed from our Pivot point, potential for drop.
Description:
Price has reversed from our Pivot point at 1.39849, in line with 88%, 61.8% Fibonacci retracement and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.38202, in line with -27%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support.
Pivot: 1.39849
Why we like it:
88%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 1.38202
Why we like it:
-27%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.40624
Why we like it:
161.8%, -27% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.39849, in line with 88%, 61.8% Fibonacci retracement and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.38202, in line with -27%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support.
Pivot: 1.39849
Why we like it:
88%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 1.38202
Why we like it:
-27%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.40624
Why we like it:
161.8%, -27% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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