#GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.40664, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.41717, in line with 100% fibonacci extension and previous swing high. Do note that price is above the ascending trendline support, in line with our bullish analysis.
Pivot: 1.40664
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.40124
Why we like it:
50% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.41717
Why we like it:
100% fibonacci extension and previous swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.40664, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.41717, in line with 100% fibonacci extension and previous swing high. Do note that price is above the ascending trendline support, in line with our bullish analysis.
Pivot: 1.40664
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.40124
Why we like it:
50% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.41717
Why we like it:
100% fibonacci extension and previous swing high
Trading FX & CFDs carries high risk.
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