#GBPUSD is approaching pivot, potential for bounce!
Price is approaching pivot level at 1.37000, in-line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA. Price could potentially bounce from pivot to resistance at 1.37980, in-line with 61.8% Fibonacci retracement, 161.8% Fibonacci extension level and trendline resistance. MACD is also indicating further bullish momentum.
Alternatively, price may drop to support at 1.36660, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension level.
Pivot:
1.37000
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Support:
1.36660
61.8% Fibonacci retracement and 100% Fibonacci extension level
1st Resistance:
1.37980
61.8% Fibonacci retracement, 161.8% Fibonacci extension level and trendline resistance
Trading FX & CFDs carries high risk.
Alternatively, price may drop to support at 1.36660, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension level.
Pivot:
1.37000
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and 20EMA
1st Support:
1.36660
61.8% Fibonacci retracement and 100% Fibonacci extension level
1st Resistance:
1.37980
61.8% Fibonacci retracement, 161.8% Fibonacci extension level and trendline resistance
Trading FX & CFDs carries high risk.
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