GBPUSD, H4 is bouncing from our Pivot point, potential for rise.

Description:
Price is bouncing from our Pivot point at 1.39387, in line with 23.6%, 61.8%, 38.2% Fibonacci retracement, Ichimoku cloud support, and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.40627, in line with -61.8%, 61.8% and 127% fibonacci retracement. Note that price is trending above the Ichimoku cloud, in line with our bullish analysis.

Pivot: 1.39387
Why we like it:
23.6%, 61.8%, 38.2% Fibonacci retracement, Ichimoku cloud support, and horizontal graphical overlap

1st Support: 1.38550
Why we like it:
78.6% fibonacci retracement, 88% fibonacci extension and graphical swing low support

1st Resistance: 1.40627
Why we like it:
-61.8%, 61.8% and 127% fibonacci retracement

Trading FX & CFDs carries high risk.