GBPUSD, H4 reversed from our Pivot point, potential for drop.
Description:
Price has reversed from our Pivot point at 1.38369, in line with 50%, 61.8% fibonacci retracement, 78.6% fibonacci extension, ichimoku cloud resistance and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.36900, in line with 161.8% fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal swing low.
Pivot: 1.38369
Why we like it:
50%, 61.8% fibonacci retracement, 78.6% fibonacci extension, ichimoku cloud resistance and horizontal graphical overlap
1st Support: 1.36900
Why we like it:
161.8% fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal swing low
1st Resistance: 1.39310
Why we like it:
78.6% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.38369, in line with 50%, 61.8% fibonacci retracement, 78.6% fibonacci extension, ichimoku cloud resistance and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.36900, in line with 161.8% fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal swing low.
Pivot: 1.38369
Why we like it:
50%, 61.8% fibonacci retracement, 78.6% fibonacci extension, ichimoku cloud resistance and horizontal graphical overlap
1st Support: 1.36900
Why we like it:
161.8% fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal swing low
1st Resistance: 1.39310
Why we like it:
78.6% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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