GBPUSD, H4 is testing our Pivot point, potential for a rise.
Description:
Price is testing our Pivot point at 1.35416, in line with 61.8%, 78.6% Fibonacci retracement and horizontal graphical area. Where we could potentially see a breakout towards our 1st resistance level at 1.37051. It is worth noting that price is trending above the ascending trendline, as well as the Ichimoku cloud, which are showing bullish pressure in line with our analysis. Lastly, Stochastics is showing bullish momentum where price has previously reacted off the 22% level.
Pivot: 1.35416
Why we like it:
61.8%, 78.6% Fibonacci retracement and horizontal graphical area
1st Support: 1.33719
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical support area.
1st Resistance: 1.37051
Why we like it:
-27% Fibonacci retracement and 88% Fibonacci extension
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.35416, in line with 61.8%, 78.6% Fibonacci retracement and horizontal graphical area. Where we could potentially see a breakout towards our 1st resistance level at 1.37051. It is worth noting that price is trending above the ascending trendline, as well as the Ichimoku cloud, which are showing bullish pressure in line with our analysis. Lastly, Stochastics is showing bullish momentum where price has previously reacted off the 22% level.
Pivot: 1.35416
Why we like it:
61.8%, 78.6% Fibonacci retracement and horizontal graphical area
1st Support: 1.33719
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical support area.
1st Resistance: 1.37051
Why we like it:
-27% Fibonacci retracement and 88% Fibonacci extension
Trading FX & CFDs carries high risk.
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