#GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.41337, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42594, in line with -27% fibonacci retracement and previous swing high. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41337
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1.40886
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42594
Why we like it:
-27% fibonacci retracement and previous swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.41337, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42594, in line with -27% fibonacci retracement and previous swing high. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41337
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1.40886
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42594
Why we like it:
-27% fibonacci retracement and previous swing high
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.