#GBPUSD broken beneath pivot, potential for a drop!

19 июл. 2021 г.

Price is reacting below our pivot level at 1.3755 which is in line with horizontal overlap resistance. Price can potentially take support at 1.36585, which is in line with -27.2%Fibonacci retracement level, 100% Fibonacci extension level & 161.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.38356, which coincides with 38.2% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap resistance . This is further supported by

Pivot:
1.37550

Why we like it:
horizontal overlap resistance

1st Support:
1.36585
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & 161.8% Fibonacci retracement level

1st Resistance:
1.38356
38.2% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap resistance
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