#GBPUSD reacting above pivot, potential for a bounce!
Price is reacting above pivot level at 1.34150 , in-line with 161.8% Fibonacci retracement level and 127.2% Fibonacci extension. Price could potentially have a short-term bounce to resistance at 1.35400, in-line with 23.6% Fibonacci retracement level and 61.8% Fibonacci extension.
Alternatively, price may drop to support at 1.32970, in-line with 200% Fibonacci retracement and 161.8% Fibonacci extension and trendline resistance.
Pivot:
1.34150
Why we like it:
161.8% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
1.32970
200% Fibonacci retracement and 161.8% Fibonacci extension and trendline resistance
1st Resistance:
1.34150
in-line with 23.6% Fibonacci retracement level and 61.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Alternatively, price may drop to support at 1.32970, in-line with 200% Fibonacci retracement and 161.8% Fibonacci extension and trendline resistance.
Pivot:
1.34150
Why we like it:
161.8% Fibonacci retracement level and 127.2% Fibonacci extension
1st Support:
1.32970
200% Fibonacci retracement and 161.8% Fibonacci extension and trendline resistance
1st Resistance:
1.34150
in-line with 23.6% Fibonacci retracement level and 61.8% Fibonacci extension
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.