GBPUSD, H4 is under our Pivot point, potential for drop.
Description:
Price is under our Pivot point at 1.37580, in line with 38.2% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.36763, in line with 78.6%, 161.8% fibonacci extension and horizontal swing low.
Pivot: 1.37580
Why we like it:
38.2% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.36763
Why we like it:
78.6%, 161.8% fibonacci extension and horizontal swing low
1st Resistance: 1.38026
Why we like it:
78.6% fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is under our Pivot point at 1.37580, in line with 38.2% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.36763, in line with 78.6%, 161.8% fibonacci extension and horizontal swing low.
Pivot: 1.37580
Why we like it:
38.2% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.36763
Why we like it:
78.6%, 161.8% fibonacci extension and horizontal swing low
1st Resistance: 1.38026
Why we like it:
78.6% fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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