GBPUSD testing our Pivot point, potential for bullish breakout
Description:
Price is testing our Pivot point at 1.37668, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.38708, in line with 78.6% fibonacci retracement, 161.8% fibonacci extension and descending trendline resistance.
Pivot: 1.37668
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.36726
Why we like it:
61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.38708
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and descending trendline resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.37668, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 1.38708, in line with 78.6% fibonacci retracement, 161.8% fibonacci extension and descending trendline resistance.
Pivot: 1.37668
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.36726
Why we like it:
61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.38708
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and descending trendline resistance
Trading FX & CFDs carries high risk.
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