GBPUSD, H4 bounced from our Pivot point, potential for a long.
Description:
Price has bounced from our Pivot point at 1.39244, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical support. Where we could potentially see a further rise from our pivot towards our 1st resistance level at 1.40063, in line with 127%, 61.8% fibonacci extension and horizontal swing high.
Pivot: 1.39244
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical support
1st Support: 1.38621
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.40063
Why we like it:
127%, 61.8% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 1.39244, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical support. Where we could potentially see a further rise from our pivot towards our 1st resistance level at 1.40063, in line with 127%, 61.8% fibonacci extension and horizontal swing high.
Pivot: 1.39244
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical support
1st Support: 1.38621
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical swing low
1st Resistance: 1.40063
Why we like it:
127%, 61.8% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
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