GBPUSD, H4 testing our Pivot point, potential for rise.
Description:
Price is testing our Pivot point at 1.40305, in line with -27%, 23.6% Fibonacci retracement and 50% fibonacci extension. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40916. It is worth noting that price is trending above the moving average, in line with our bullish view.
Pivot: 1.40305
Why we like it:
-27%, 23.6% Fibonacci retracement and 50% fibonacci extension
1st Support: 1.39544
Why we like it:
23.6%, 78.6% Fibonacci retracement and horizontal graphical area.
1st Resistance: 1.40916
Why we like it:
-27%, -68% Fibonacci retracement and 88% fibonacci extension
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.40305, in line with -27%, 23.6% Fibonacci retracement and 50% fibonacci extension. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40916. It is worth noting that price is trending above the moving average, in line with our bullish view.
Pivot: 1.40305
Why we like it:
-27%, 23.6% Fibonacci retracement and 50% fibonacci extension
1st Support: 1.39544
Why we like it:
23.6%, 78.6% Fibonacci retracement and horizontal graphical area.
1st Resistance: 1.40916
Why we like it:
-27%, -68% Fibonacci retracement and 88% fibonacci extension
Trading FX & CFDs carries high risk.
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