GBPUSD, H4 testing our Pivot point, potential for drop.
Description:
Price is testing our Pivot point at 1.39925, in line with 61.8%, -61.8% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.39235. It is worth noting that price is trending under the moving average, in line with our bearish view.
Pivot: 1.39925
Why we like it:
61.8%, -61.8% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.39235
Why we like it:
78.6% and 127% Fibonacci retracement
1st Resistance: 1.40406
Why we like it:
78.6%, -27% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.39925, in line with 61.8%, -61.8% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.39235. It is worth noting that price is trending under the moving average, in line with our bearish view.
Pivot: 1.39925
Why we like it:
61.8%, -61.8% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.39235
Why we like it:
78.6% and 127% Fibonacci retracement
1st Resistance: 1.40406
Why we like it:
78.6%, -27% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
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.