#GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.40664, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.41717, in line with 100% fibonacci extension and previous swing high. Do note that price is above the ascending trendline support, in line with our bullish analysis.
Pivot: 1.40664
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.40124
Why we like it:
50% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.41717
Why we like it:
100% fibonacci extension and previous swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.40664, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.41717, in line with 100% fibonacci extension and previous swing high. Do note that price is above the ascending trendline support, in line with our bullish analysis.
Pivot: 1.40664
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.40124
Why we like it:
50% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.41717
Why we like it:
100% fibonacci extension and previous swing high
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.