Falling to 38.2% Fibo Support

TitleFalling to 38.2% Fibo SupportTypeBullish BouncePreference:Price is falling towards the pivot point of 103.098 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 103.436 which is a pullback resistance level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 102.987 which is an overlap support that aligns close to the 50.0% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

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