GBPUSD, H4 is approaching our Pivot point, potential for drop.
Description:
Price is approaching our Pivot point at 1.38821, in line with 78.6% 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 1.37587, in line with -27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38821
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, and horizontal graphical overlap
1st Support: 1.37587
Why we like it:
-27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.39873
Why we like it:
88.6% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.38821, in line with 78.6% 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 1.37587, in line with -27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38821
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, and horizontal graphical overlap
1st Support: 1.37587
Why we like it:
-27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.39873
Why we like it:
88.6% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
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.