GBPUSD, H4 is approaching our Pivot point, potential for a rise
Description:
Price is approaching our Pivot point at 1.33203, which is in line with our 61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area. We could potentially see price rise from this level, towards our 1st resistance level at 1.36498 in line with 61.8% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is currently trending above the Ichimoku cloud and Stochastic is approaching the 28% level where price has previously reacted.
Pivot: 1.33203
Why we like it:
61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area
1st Support: 1.31308
Why we like it:
127% fibonacci extension and horizontal swing-low support.
1st Resistance: 1.38498
Why we like it:
61.8% fibonacci extension and 127% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.33203, which is in line with our 61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area. We could potentially see price rise from this level, towards our 1st resistance level at 1.36498 in line with 61.8% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is currently trending above the Ichimoku cloud and Stochastic is approaching the 28% level where price has previously reacted.
Pivot: 1.33203
Why we like it:
61.8% Fibonacci retracement, 88%, 78.6% Fibonacci extension and horizontal graphical overlap area
1st Support: 1.31308
Why we like it:
127% fibonacci extension and horizontal swing-low support.
1st Resistance: 1.38498
Why we like it:
61.8% fibonacci extension and 127% fibonacci retracement
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.