#GBPUSD, H4 has bounced from our Pivot point, potential for a lo
Description:
Price has bounced from our Pivot point at 1.41319, in line with 78.6% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42247, in line with 100%, 61.8% fibonacci extension and horizontal swing high resistance. Note that price is trending above the moving average and ascending trendline, in line with our bullish analysis.
Pivot: 1.41319
Why we like it:
78.6% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap
1st Support: 1.40772
Why we like it:
161.8% fibonacci retracement 78.6% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.42247
Why we like it:
100%, 61.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 1.41319, in line with 78.6% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42247, in line with 100%, 61.8% fibonacci extension and horizontal swing high resistance. Note that price is trending above the moving average and ascending trendline, in line with our bullish analysis.
Pivot: 1.41319
Why we like it:
78.6% fibonacci retracement, 38.2% fibonacci extension and horizontal graphical overlap
1st Support: 1.40772
Why we like it:
161.8% fibonacci retracement 78.6% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.42247
Why we like it:
100%, 61.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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