GBPUSD, H4 is approaching our Pivot point, potential for drop.
Description:
Price is approaching our Pivot point at 1.38821, 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 1.37587, in line with -27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38821
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, and horizontal graphical overlap
1st Support: 1.37587
Why we like it:
-27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.39873
Why we like it:
88.6% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.38821, 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 1.37587, in line with -27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Pivot: 1.38821
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, and horizontal graphical overlap
1st Support: 1.37587
Why we like it:
-27%, 161.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.39873
Why we like it:
88.6% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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