GBPUSD, H4 testing our Pivot point, potential for rise.
Description:
Price is testing our Pivot point at 1.39224, in line with -27%, 161.8%, and 78.6% Fibonacci retracement. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40097. It is worth noting that price is trending above the Ichimoku cloud, and MACD is above the 0-line, in line with our bullish view.
Pivot: 1.39224
Why we like it:
-27%, 161.8%, and 78.6% Fibonacci retracement
1st Support: 1.38610
Why we like it:
38.2% Fibonacci retracement, 38.2% fibonacci extension and horizontal graphical area.
1st Resistance: 1.40097
Why we like it:
127% Fibonacci extension and -61.8% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.39224, in line with -27%, 161.8%, and 78.6% Fibonacci retracement. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40097. It is worth noting that price is trending above the Ichimoku cloud, and MACD is above the 0-line, in line with our bullish view.
Pivot: 1.39224
Why we like it:
-27%, 161.8%, and 78.6% Fibonacci retracement
1st Support: 1.38610
Why we like it:
38.2% Fibonacci retracement, 38.2% fibonacci extension and horizontal graphical area.
1st Resistance: 1.40097
Why we like it:
127% Fibonacci extension and -61.8% Fibonacci retracement
Trading FX & CFDs carries high risk.
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