#GBPUSD approaching pivot, potentail for a reversal!
Price is approaching pivot level of 1.36074 where we have 38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal pullback support lining up. A reversal from this level might see price take support at 1.34287, which is in line with 127.2% Fibonacci extension levelhorizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 1.39813, which coincides with 50.0% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support . This is further supported by how price is holding below the EMA
Pivot:
1.36074
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal pullback support
1st Support:
1.34287
Why we like it:
127.2% Fibonacci extension levelhorizontal swing low support
1st Resistance:
1.39813
Why we like it:
50.0% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support
Trading FX & CFDs carries high risk.
Pivot:
1.36074
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal pullback support
1st Support:
1.34287
Why we like it:
127.2% Fibonacci extension levelhorizontal swing low support
1st Resistance:
1.39813
Why we like it:
50.0% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support
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.