GBPUSD, H4 approaching our Pivot point, potential for rise.
Description:
Price is approaching our Pivot point at 1.38109, in line with 100%, 127% Fibonacci extension and 61.8% fibonacci retracement. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.38762. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 1.38109
Why we like it:
100%, 127% Fibonacci extension and 61.8% Fibonacci extension.
1st Support: 1.37490
Why we like it:
61.8% Fibonacci retracement, 76.4% fibonacci extension and horizontal graphical area.
1st Resistance: 1.38762
Why we like it:
127% and 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.38109, in line with 100%, 127% Fibonacci extension and 61.8% fibonacci retracement. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.38762. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 1.38109
Why we like it:
100%, 127% Fibonacci extension and 61.8% Fibonacci extension.
1st Support: 1.37490
Why we like it:
61.8% Fibonacci retracement, 76.4% fibonacci extension and horizontal graphical area.
1st Resistance: 1.38762
Why we like it:
127% and 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
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