GBPUSD, H4 has broken our Pivot point, potential for drop.
Description:
Price is approaching our Pivot point at 1.37157, in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.35916, in line with 78.6% and 161.8% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing low support. Note that price is trending under the Ichimoku cloud, in line with our bearish view.
Pivot: 1.37157
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.35916
Why we like it:
161.8% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing low support
1st Resistance: 1.37951
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and ichimoku cloud resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.37157, in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.35916, in line with 78.6% and 161.8% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing low support. Note that price is trending under the Ichimoku cloud, in line with our bearish view.
Pivot: 1.37157
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.35916
Why we like it:
161.8% fibonacci retracement, 61.8%, 100% fibonacci extension and horizontal swing low support
1st Resistance: 1.37951
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and ichimoku cloud resistance
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.