#GBPUSD, H4 is approaching our Pivot point, potential for a long
Description:
Price is approaching our Pivot point at 1.41337, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42594, in line with -27% fibonacci retracement and previous swing high. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41337
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1.40886
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42594
Why we like it:
-27% fibonacci retracement and previous swing high
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.41337, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap. Where we could potentially see a further push from our pivot towards our 1st resistance level at 1.42594, in line with -27% fibonacci retracement and previous swing high. Note that price is trending above the Ichimoku cloud and MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.41337
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1.40886
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 1.42594
Why we like it:
-27% fibonacci retracement and previous swing high
Trading FX & CFDs carries high risk.
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