#GBPUSD, H4 is testing our Pivot point, potential for a rise

Description:
Price is testing our Pivot point at 1.38418, in line with 78.6% fibonacci retracement, 50% fibonacci extension and horizontal overlap, where we could potentially see a push up from our pivot towards our 1st resistance level at 1.39466, which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Note that price is above the moving average and ascending trendline, in line with our bullish analysis.

Pivot: 1.38418
Why we like it:
78.6% fibonacci retracement, 50% fibonacci extension and horizontal overlap

1st Support: 1.37282
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low

1st Resistance: 1.39466
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap

Trading FX & CFDs carries high risk.