#GBPUSD, H4 is bouncing from our Pivot point, potential for a lo
Description:
Price is bouncing from our Pivot point at 1.41727, in line with 23.8%, 61.8% fibonacci retracement and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42784, in line with -27% fibonacci retracement and 78.6% fibonacci extension. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41727
Why we like it:
23.8%, 61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 1.41199
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42784
Why we like it:
-27% fibonacci retracement and 78.6% fibonacci extension
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1.41727, in line with 23.8%, 61.8% fibonacci retracement and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42784, in line with -27% fibonacci retracement and 78.6% fibonacci extension. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41727
Why we like it:
23.8%, 61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 1.41199
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42784
Why we like it:
-27% fibonacci retracement and 78.6% fibonacci extension
Trading FX & CFDs carries high risk.
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