#GBPUSD, H4 is approaching our Pivot point, potential for a drop
Description:
Price is approaching our Pivot point at 1.40058, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.39137, in line with 88.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support. Note that price is under the Ichimoku cloud and MACD is under the 0-line, in line with our bearish analysis.
Pivot: 1.40058
Why we like it:
38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.39137
Why we like it:
88.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.40683
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.40058, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.39137, in line with 88.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support. Note that price is under the Ichimoku cloud and MACD is under the 0-line, in line with our bearish analysis.
Pivot: 1.40058
Why we like it:
38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.39137
Why we like it:
88.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.40683
Why we like it:
61.8% fibonacci retracement, 100% 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.