GBPUSD has bounced from our Pivot point, potential for a rise
Description:
Price has bounced from our Pivot point at 1.36981, in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and Ichimoku cloud support level. Where we could potentially see a rise towards our 1st resistance level at 1.37764. It is worth noting that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish view.
Pivot: 1.36981
Why we like it:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and Ichimoku cloud support level
1st Support: 1.36394
Why we like it:
88% Fibonacci retracement, 127% fibonacci extension and horizontal graphical area.
1st Resistance: 1.37764
Why we like it:
127%, -27%, 127% Fibonacci retracement and 88% Fibonacci extension
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 1.36981, in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and Ichimoku cloud support level. Where we could potentially see a rise towards our 1st resistance level at 1.37764. It is worth noting that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish view.
Pivot: 1.36981
Why we like it:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and Ichimoku cloud support level
1st Support: 1.36394
Why we like it:
88% Fibonacci retracement, 127% fibonacci extension and horizontal graphical area.
1st Resistance: 1.37764
Why we like it:
127%, -27%, 127% Fibonacci retracement and 88% Fibonacci extension
Trading FX & CFDs carries high risk.
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