#GBPUSD, H4 approaching our Pivot point, potential for a bounce
Description:
Price is approaching our Pivot point at 1.41414, in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a bounce from our pivot towards our 1st resistance level at 1.42305, in line with 88.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance. Note that price is trending within the bullish channel, in line with our bullish analysis.
Pivot: 1.41414
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.40966
Why we like it:
127% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.42305
Why we like it:
88.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.41414, in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a bounce from our pivot towards our 1st resistance level at 1.42305, in line with 88.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance. Note that price is trending within the bullish channel, in line with our bullish analysis.
Pivot: 1.41414
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.40966
Why we like it:
127% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.42305
Why we like it:
88.6% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance
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.