Description Price is approaching our Pivot point of 0.77463, which is in line with our 23.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 0.77057, in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support. It is noteworthy that price is trending within a bearish channel, in line with our bullish analysis.
Pivot: 0.77463 Why we like it: 23.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.77057 Why we like it: 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.77936 Why we like it: -27% fibonacci retracement, 100% fibonacci extension and descending trendline resistance. Trading FX & CFDs carries high risk.