GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.40577, in line with 38.2%, 78.6% fibonacci retracement and 61.8% fibonacci extension. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.41649, in line with the previous swing high. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1.40577
Why we like it:
38.2%, 78.6% fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.39909
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.41649
Why we like it:
-27%, 161.8% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.40577, in line with 38.2%, 78.6% fibonacci retracement and 61.8% fibonacci extension. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.41649, in line with the previous swing high. Do note that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1.40577
Why we like it:
38.2%, 78.6% fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.39909
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.41649
Why we like it:
-27%, 161.8% fibonacci retracement and 100% fibonacci extension
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.