GBPUSD, H4 bounced from our Pivot point, potential for a rise.
Description:
Price has bounced from our Pivot point at 1.36082, in line with 38.2%, 88% Fibonacci retracement and horizontal graphical area. Where we could potentially see a rise towards our 1st resistance level at 1.37424. It is worth noting that price is trending above the ascending trendline, as well as the Ichimoku cloud, which are showing bullish pressure in line with our analysis.
Pivot: 1.36082
Why we like it:
38.2%, 88% Fibonacci retracement and horizontal graphical area
1st Support: 1.35275
Why we like it:
50%, 78.6% Fibonacci retracement and horizontal graphical support area.
1st Resistance: 1.37424
Why we like it:
-27%, 161.8% and 127% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 1.36082, in line with 38.2%, 88% Fibonacci retracement and horizontal graphical area. Where we could potentially see a rise towards our 1st resistance level at 1.37424. It is worth noting that price is trending above the ascending trendline, as well as the Ichimoku cloud, which are showing bullish pressure in line with our analysis.
Pivot: 1.36082
Why we like it:
38.2%, 88% Fibonacci retracement and horizontal graphical area
1st Support: 1.35275
Why we like it:
50%, 78.6% Fibonacci retracement and horizontal graphical support area.
1st Resistance: 1.37424
Why we like it:
-27%, 161.8% and 127% Fibonacci retracement
Trading FX & CFDs carries high risk.
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