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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.