GBPUSD reversing from our Pivot point, potential for a drop
Description:
Price has reversed from our Pivot point at 1.36215, in line with 38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension and horizontal graphical area. Where we could potentially see a drop towards our 1st support level at 1.35126. It is worth noting that MACD has crossed under the signal line, in line with our bearish view.
Pivot: 1.36215
Why we like it:
38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension and horizontal graphical area
1st Support: 1.35126
Why we like it:
78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical area.
1st Resistance: 1.36936
Why we like it:
127% Fibonacci retracement, 88% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.36215, in line with 38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension and horizontal graphical area. Where we could potentially see a drop towards our 1st support level at 1.35126. It is worth noting that MACD has crossed under the signal line, in line with our bearish view.
Pivot: 1.36215
Why we like it:
38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension and horizontal graphical area
1st Support: 1.35126
Why we like it:
78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical area.
1st Resistance: 1.36936
Why we like it:
127% Fibonacci retracement, 88% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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