GBPUSD, H4 reversed from our Pivot point, potential for drop.
Description:
Price has reversed from our Pivot point at 1.39248, in line with -27%, 61.8% Fibonacci retracement, 127% fibonacci extension, descending trendline resistance and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.37762, in line with -27%, 127% fibonacci retracement, 61.8%, 61.8% fibonacci extension and graphical area. Note that price is trending under the Ichimoku cloud and descending trendline, in line with our analysis.
Pivot: 1.39248
Why we like it:
-27%, 61.8% Fibonacci retracement, 127% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 1.37762
Why we like it:
-27%, 127% fibonacci retracement, 61.8%, 61.8% fibonacci extension and graphical area
1st Resistance: 1.40072
Why we like it:
38.2%, 88% Fibonacci retracement, and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.39248, in line with -27%, 61.8% Fibonacci retracement, 127% fibonacci extension, descending trendline resistance and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.37762, in line with -27%, 127% fibonacci retracement, 61.8%, 61.8% fibonacci extension and graphical area. Note that price is trending under the Ichimoku cloud and descending trendline, in line with our analysis.
Pivot: 1.39248
Why we like it:
-27%, 61.8% Fibonacci retracement, 127% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 1.37762
Why we like it:
-27%, 127% fibonacci retracement, 61.8%, 61.8% fibonacci extension and graphical area
1st Resistance: 1.40072
Why we like it:
38.2%, 88% Fibonacci retracement, 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.