GBPUSD, H4 is testing our Pivot point, potential for a rise.
Description:
Price is testing our Pivot point at 1.34741, which is in line with our horizontal graphical overlap area. We could potentially see price rise from this level, towards our 1st resistance level at 1.38198 in line with 50% fibonacci extension and 61.8% fibonacci retracement. It is worth noting that price is currently trending above an ascending trendline and Stochastic is trending above an ascending trendline as well.
Pivot: 1.34741
Why we like it:
horizontal graphical overlap
1st Support: 1.33397
Why we like it:
50% fibonacci extension and 61.8% fibonacci retracement
1st Resistance: 1.38198
Why we like it:
100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.34741, which is in line with our horizontal graphical overlap area. We could potentially see price rise from this level, towards our 1st resistance level at 1.38198 in line with 50% fibonacci extension and 61.8% fibonacci retracement. It is worth noting that price is currently trending above an ascending trendline and Stochastic is trending above an ascending trendline as well.
Pivot: 1.34741
Why we like it:
horizontal graphical overlap
1st Support: 1.33397
Why we like it:
50% fibonacci extension and 61.8% fibonacci retracement
1st Resistance: 1.38198
Why we like it:
100% fibonacci extension
Trading FX & CFDs carries high risk.
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