#GBPUSD, H4 has reversed from Pivot, potential for drop for SAXO:GBPUSD by HMC_Trader — TradingView

Price is reacting below our pivot level at 1.38961 which is in line with 61.8% Fibonacci retracement level. Price can potentially take support at 1.37552, which is in line with 127.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 1.39442, which coincides with 78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance . This is further supported by

Pivot:

1.38961

Why we like it:

61.8% Fibonacci retracement level

1st Support:

1.37552

127.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing low support

1st Resistance:

1.39442

78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance

Trading FX & CFDs carries high risk.