#GBPUSD, H4 is above our Pivot point, potential for a long.
Description:
Price is above our Pivot point at 1.41284, in line with 78.6% fibonacci retracement and 100% fibonacci extension. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42465, in line with horizontal graphical swing high and 100% fibonacci extension. Do note that price is above the ascending trendline and Ichimoku cloud , in line with our bullish analysis.
Pivot: 1.41284
Why we like it:
78.6% fibonacci retracement and 100% fibonacci extension
1st Support: 1.40890
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42465
Why we like it:
horizontal graphical swing high and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1.41284, in line with 78.6% fibonacci retracement and 100% fibonacci extension. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42465, in line with horizontal graphical swing high and 100% fibonacci extension. Do note that price is above the ascending trendline and Ichimoku cloud , in line with our bullish analysis.
Pivot: 1.41284
Why we like it:
78.6% fibonacci retracement and 100% fibonacci extension
1st Support: 1.40890
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42465
Why we like it:
horizontal graphical swing high and 100% fibonacci extension
Trading FX & CFDs carries high risk.
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