#GBPUSD consolidating at pivot, potential for bounce!
Price is at pivot level of 1.36660, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension. Price may potentially swing towards resistance at 1.37980, in-line with 61.8% Fibonacci retracement , 161.8% Fibonacci extension level and trendline resistance.
Alternatively, price may drop to support at 1.36100, in-line with 100% Fibonacci retracement, 161.8% Fibonacci extension level and swing low support
Pivot:
1.36660
Why we like it:
61.8% Fibonacci retracement and 100% Fibonacci extension
1st Support:
1.36100
100% Fibonacci retracement, 161.8% Fibonacci extension level and swing low support
1st Resistance:
1.37980
61.8% Fibonacci retracement , 161.8% Fibonacci extension level and trendline resistance
Trading FX & CFDs carries high risk.
Alternatively, price may drop to support at 1.36100, in-line with 100% Fibonacci retracement, 161.8% Fibonacci extension level and swing low support
Pivot:
1.36660
Why we like it:
61.8% Fibonacci retracement and 100% Fibonacci extension
1st Support:
1.36100
100% Fibonacci retracement, 161.8% Fibonacci extension level and swing low support
1st Resistance:
1.37980
61.8% Fibonacci retracement , 161.8% Fibonacci extension level and trendline resistance
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.