#GBPUSD, H4 bouncing from our Pivot point, potential for a rise
Description:
Price is bouncing from our Pivot point at 1.39031, in line with 78.6% fibonacci retracement, 127% fibonacci extension and bullish channel trendline. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40115, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Note that price is trending within the bullish channel, in line with our bullish analysis.
Pivot: 1.39031
Why we like it:
78.6% fibonacci retracement, 127% fibonacci extension and bullish channel trendline
1st Support: 1.37982
Why we like it:
78.6%, 127% fibonacci retracement and horizontal swing low support
1st Resistance: 1.40115
Why we like it:
61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1.39031, in line with 78.6% fibonacci retracement, 127% fibonacci extension and bullish channel trendline. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40115, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Note that price is trending within the bullish channel, in line with our bullish analysis.
Pivot: 1.39031
Why we like it:
78.6% fibonacci retracement, 127% fibonacci extension and bullish channel trendline
1st Support: 1.37982
Why we like it:
78.6%, 127% fibonacci retracement and horizontal swing low support
1st Resistance: 1.40115
Why we like it:
61.8% fibonacci extension and horizontal graphical overlap
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.