GBPUSD, H4 breaking out of our Pivot point, potential for drop.
Description:
Price is approaching our Pivot point at 1.38018, in line with 38.2%, 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 1.36833, in line with 161.8% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38018
Why we like it:
38.2%, 61.8% fibonacci retracement 61.8% fibonacci extension, and horizontal graphical overlap
1st Support: 1.36833
Why we like it:
161.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.38762
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 1.38018, in line with 38.2%, 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 1.36833, in line with 161.8% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38018
Why we like it:
38.2%, 61.8% fibonacci retracement 61.8% fibonacci extension, and horizontal graphical overlap
1st Support: 1.36833
Why we like it:
161.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.38762
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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