#GBPUSD is at pivot, potential for a bounce!
Price is approaching pivot level at 1.37800 which is in line with 38.2% Fibonacci retracement level , 61.8% Fibonacci extension and horizontal overlap support. Price may potentially swing towards resistance at 1.38780 which is in-line with 100% Fibonacci retracement and 127.2%Fibonacci extension level.
Alternatively, price may drop to support at 1.37215 which is in line with 50% Fibonacci retracement and 61.8% Fibonacci extension level.
Pivot:
1.37800
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap support
1st Support:
1.37215
50% Fibonacci retracement and 61.8% Fibonacci extension level
1st Resistance:
1.38780
100% Fibonacci retracement and 127.2%Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to support at 1.37215 which is in line with 50% Fibonacci retracement and 61.8% Fibonacci extension level.
Pivot:
1.37800
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap support
1st Support:
1.37215
50% Fibonacci retracement and 61.8% Fibonacci extension level
1st Resistance:
1.38780
100% Fibonacci retracement and 127.2%Fibonacci extension level
Trading FX & CFDs carries high risk.
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