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GBPAUD,H4 | Potential Bullish Momentum

41235 gbpaudh4 potential bullish momentum

Type: Bullish BounceKey Levels:Resistance: 1.77885Pivot: 1.75263Support: 1.74422Preferred Case:On the H4, with price moving above the ichimoku cloud and price recently breaking the descending trendline, we have a bullish bias that price will rise from the pivot at 1.75263 in line with the overlap support, 50% fibonacci retracement and 61.8% fibonacci projection , to the 1st resistance at 1.77885 at the swing high.Alternative Scenario:Alternatively, price may drop from the pivot to the 1st support at 1.74422 in line with the overlap pullback support and 61.8% fibonacci projection .

Source: Tickmill

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