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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.