GBPUSD, H4 bouncing from our Pivot point, potential for a long

2021年4月20日

Price holding above moving average support. A further push up above 23.6% Fibonacci retracement and our pivot at 1.39725 towards 1st resistance at 1.40758 could be possible. Our 1st resistance also falls in line with -27% Fibonacci retracement. Otherwise, a break below our pivot could see price swing the other way towards our 1st support at 1.39433.

Pivot: 1.39725
Why we like it:
23.6% Fibonacci retracement , moving average support

1st Support: 1.39433
Why we like it:
38.2% fibonacci retracement

1st Resistance: 1.40758
Why we like it:
-27.2% fibonacci retracement

Trading FX & CFDs carries high risk.