#GBPUSD consolidating at pivot, potential for bounce!

2021年9月27日

Price is at pivot level of 1.36660, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension. Price may potentially swing towards resistance at 1.37980, in-line with 61.8% Fibonacci retracement , 161.8% Fibonacci extension level and trendline resistance.
Alternatively, price may drop to support at 1.36100, in-line with 100% Fibonacci retracement, 161.8% Fibonacci extension level and swing low support

Pivot:
1.36660

Why we like it:
61.8% Fibonacci retracement and 100% Fibonacci extension

1st Support:
1.36100
100% Fibonacci retracement, 161.8% Fibonacci extension level and swing low support

1st Resistance:
1.37980
61.8% Fibonacci retracement , 161.8% Fibonacci extension level and trendline resistance

Trading FX & CFDs carries high risk.