#GBPUSD above pivot, potential for a further upside!
Price is reactive above pivot level at 1.36427 which is in line with -61.8% Fibonacci retracement level and 127.2% Fibonacci extension. Price may potentially swing towards our resistance at 1.36950, which coincides with 50% Fibonacci retracement level , 127.2% Fibonacci extension level and 20EMA. Stochastic is also at support level where previous bounces occurred.
Alternatively, price may drop to our support at 1.355525 which is in line with -27.2% Fibonacci retracement and 161.8% Fibonacci extension level.
Pivot:
1.36427
Why we like it:
-61.8% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
1.355525
-27.2% Fibonacci retracement and 161.8% Fibonacci extension level
1st Resistance:
1.36950
50% Fibonacci retracement level , 127.2% Fibonacci extension level and 20EMA
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 1.355525 which is in line with -27.2% Fibonacci retracement and 161.8% Fibonacci extension level.
Pivot:
1.36427
Why we like it:
-61.8% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
1.355525
-27.2% Fibonacci retracement and 161.8% Fibonacci extension level
1st Resistance:
1.36950
50% Fibonacci retracement level , 127.2% Fibonacci extension level and 20EMA
Trading FX & CFDs carries high risk.
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