GBPUSD, H4 has reached our Pivot point, potential for a rise.
Description:
Price has reached our Pivot point at 1.36200, in line with 50% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical area. Where we could potentially see a rise towards our 1st resistance level at 1.36931. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 1.36200
Why we like it:
50% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical area.
1st Support: 1.35814
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 1.36931
Why we like it:
88% Fibonacci retracement, 88% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price has reached our Pivot point at 1.36200, in line with 50% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical area. Where we could potentially see a rise towards our 1st resistance level at 1.36931. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 1.36200
Why we like it:
50% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical area.
1st Support: 1.35814
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 1.36931
Why we like it:
88% Fibonacci retracement, 88% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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