#GBPUSD facing bearish pressure, potential for further downside!
Description
Price is reacting below our pivot level at 1.39046 which is in line with 38.2% Fibonacci retracement level & 38.2% Fibonacci extension level. Price can potentially take support at 1.37932, which is in line with 161.8% Fibonacci retracement level & 61.8% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.4, which coincides with 50.0% Fibonacci retracement level, 100% Fibonacci extension level . This is further supported by how MACD is holding below the 0 line.
Pivot:
1.39046
Why we like it:
38.2% Fibonacci retracement level, 38.2% Fibonacci extension level
1st Support:
1.38
161.8% Fibonacci retracement level, 61.8% Fibonacci extension level
1st Resistance:
1.40000
50.0% Fibonacci retracement level, 100% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.39046 which is in line with 38.2% Fibonacci retracement level & 38.2% Fibonacci extension level. Price can potentially take support at 1.37932, which is in line with 161.8% Fibonacci retracement level & 61.8% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.4, which coincides with 50.0% Fibonacci retracement level, 100% Fibonacci extension level . This is further supported by how MACD is holding below the 0 line.
Pivot:
1.39046
Why we like it:
38.2% Fibonacci retracement level, 38.2% Fibonacci extension level
1st Support:
1.38
161.8% Fibonacci retracement level, 61.8% Fibonacci extension level
1st Resistance:
1.40000
50.0% Fibonacci retracement level, 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.