#GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.41405, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42528, in line with -27% fibonacci retracement. Note that price is trending above the MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41405
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.40585
Why we like it:
127% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42528
Why we like it:
-27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.41405, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42528, in line with -27% fibonacci retracement. Note that price is trending above the MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41405
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.40585
Why we like it:
127% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42528
Why we like it:
-27% fibonacci retracement
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.