GBPUSD, H4 bounced from our Pivot point, potential for a long.
Description:
Price has bounced from our Pivot point at 1.38649, in line with 61.8% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical support. Where we could potentially see a further rise from our pivot towards our 1st resistance level at 1.39651, in line with -27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38649
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical support
1st Support: 1.38185
Why we like it:
78.6%, 88% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.39651
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 1.38649, in line with 61.8% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical support. Where we could potentially see a further rise from our pivot towards our 1st resistance level at 1.39651, in line with -27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38649
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical support
1st Support: 1.38185
Why we like it:
78.6%, 88% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.39651
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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