#GBPUSD approaching pivot, potential for a bounce!
Price is approaching pivot level at 1.36876 which is in line with -27.2% Fibonacci retracement level and 100% Fibonacci extension. Price may potentially swing towards our resistance at 1.377736, which coincides with 38.2% Fibonacci retracement level and 61.8% Fibonacci extension level.
Alternatively, price may drop to our support at 1.36215 which is in line with -61.8% Fibonacci retracement and 127.2% Fibonacci extension level.
Pivot:
1.36876
Why we like it:
-27.2% Fibonacci retracement level and 100% Fibonacci extension
1st Support:
1.36215
-61.8% Fibonacci retracement and 127.2% Fibonacci extension level
1st Resistance:
1.377736
38.2% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support at 1.36215 which is in line with -61.8% Fibonacci retracement and 127.2% Fibonacci extension level.
Pivot:
1.36876
Why we like it:
-27.2% Fibonacci retracement level and 100% Fibonacci extension
1st Support:
1.36215
-61.8% Fibonacci retracement and 127.2% Fibonacci extension level
1st Resistance:
1.377736
38.2% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
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