GBPUSD, H4 is approaching our Pivot point, potential bounce.

8 Nis 2021

Price is facing bullish pressure from 1st support in line with 127.2% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing low support. Prices might push up towards 1st resistance which is a horizontal swing high resistance, in line with 78.6% Fibonacci retracement and 127.2% Fibonacci extension. Stochastics is also approaching 5.31 level, potential for bounce.

Pivot: 1.37465
Why we like it:
Graphical swing low support, 127.2% Fibonacci extension, 78.6% Fibonacci retracement

1st Support: 1.36706
Why we like it:
Graphical swing high resistance, 78.6% Fibonacci retracement, 127.2% Fibonacci extension

1st Resistance: 1.39189
Why we like it:
Graphical swing low support, 78.6% Fibonacci retracement, 127.2% Fibonacci extension

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