#GBPUSD is approaching pivot, potential for bounce!
Price is approaching pivot level at 1.36685 which, in-line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap resistance. Price may potentially drop to support at 1.36020 which is in-line with 100% Fibonacci retracement , 100% Fibonacci extension and swing low support. Stochastic is also approaching horizontal support where previous bounces occurred.
Alternatively, price may swing towards resistance at 1.37605, in-line with 23.6% Fibonacci retracement, 61.8% Fibonacci extension and trendline resistance.
Pivot:
1.36685
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap resistance
1st Support:
1.36020
100% Fibonacci retracement , 100% Fibonacci extension and swing low support
1st Resistance:
1.37605
23.6% Fibonacci retracement, 61.8% Fibonacci extension and trendline resistance
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards resistance at 1.37605, in-line with 23.6% Fibonacci retracement, 61.8% Fibonacci extension and trendline resistance.
Pivot:
1.36685
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap resistance
1st Support:
1.36020
100% Fibonacci retracement , 100% Fibonacci extension and swing low support
1st Resistance:
1.37605
23.6% Fibonacci retracement, 61.8% Fibonacci extension and trendline 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.