GBPUSD, H4 is approaching our Pivot point, potential for rise.
Description:
Price is approaching our Pivot point at 1.38732, in line with 61.8%, 23.6% fibonacci retracement and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.39613, in line with 78.6% and -61.8% fibonacci retracement and horizontal swing high resistance. Note that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 1.38732
Why we like it:
61.8%, 23.6% fibonacci retracement and horizontal graphical overlap
1st Support: 1.38123
Why we like it:
78.6% fibonacci retracement, 50% fibonacci extension, Ichimoku cloud support and horizontal swing low
1st Resistance: 1.39613
Why we like it:
78.6% and -61.8% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.38732, in line with 61.8%, 23.6% fibonacci retracement and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.39613, in line with 78.6% and -61.8% fibonacci retracement and horizontal swing high resistance. Note that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 1.38732
Why we like it:
61.8%, 23.6% fibonacci retracement and horizontal graphical overlap
1st Support: 1.38123
Why we like it:
78.6% fibonacci retracement, 50% fibonacci extension, Ichimoku cloud support and horizontal swing low
1st Resistance: 1.39613
Why we like it:
78.6% and -61.8% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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