#GBPUSD approaching pivot, potential for a bounce!
Price is approaching pivot level at 1.38341 which is in line with 50% Fibonacci retracement level and 200MA. Price may potentially swing towards our resistance at 1.39089, which coincides with 61.8% Fibonacci retracement level and 100% Fibonacci extension level.
Alternatively, price may drop to our support at 1.38021 which is in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension level.
Pivot:
1.38341
Why we like it:
50% Fibonacci retracement level and 200MA
1st Support:
1.38021
78.6% Fibonacci retracement and 78.6% Fibonacci extension level
1st Resistance:
1.39089
61.8% Fibonacci retracement level and 100% Fibonacci extension level.
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 1.38021 which is in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension level.
Pivot:
1.38341
Why we like it:
50% Fibonacci retracement level and 200MA
1st Support:
1.38021
78.6% Fibonacci retracement and 78.6% Fibonacci extension level
1st Resistance:
1.39089
61.8% Fibonacci retracement level and 100% Fibonacci extension level.
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.