GBPUSD, H4 reversed from our Pivot point, potential for a short
Description:
Price has reversed from our Pivot point at 1.39181, in line with 61.8% fibonacci retracement, 100% fibonacci extension, descending trendline and horizontal graphical resistance. Where we could potentially see a further drop from our pivot towards our 1st support level at 1.38231, in line with 61.8% fibonacci extension and horizontal swing low.
Pivot: 1.39181
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension, descending trendline and horizontal graphical resistance
1st Support: 1.38231
Why we like it:
61.8% fibonacci extension and horizontal swing low
1st Resistance: 1.39567
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.39181, in line with 61.8% fibonacci retracement, 100% fibonacci extension, descending trendline and horizontal graphical resistance. Where we could potentially see a further drop from our pivot towards our 1st support level at 1.38231, in line with 61.8% fibonacci extension and horizontal swing low.
Pivot: 1.39181
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension, descending trendline and horizontal graphical resistance
1st Support: 1.38231
Why we like it:
61.8% fibonacci extension and horizontal swing low
1st Resistance: 1.39567
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal 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.