#GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.41405, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42528, in line with -27% fibonacci retracement. Note that price is trending above the MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41405
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.40585
Why we like it:
127% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42528
Why we like it:
-27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.41405, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42528, in line with -27% fibonacci retracement. Note that price is trending above the MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41405
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.40585
Why we like it:
127% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42528
Why we like it:
-27% fibonacci retracement
Trading FX & CFDs carries high risk.
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