GBPUSD, H4 | Potential Bullish Continuation


Type: Bullish BounceKey Levels:Resistance: 1.25452Pivot: 1.23939Support: 1.23312Preferred Case:On the H4, with prices moving above the Ichimoku indicator, we have a bullish bias that price will rise from our pivot at 1.23939 where the horizontal overlap support is to our 1st resistance at 1.25452 in line with the 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.23312 where the horizontal swing low support and 78.6% Fibonacci projection is.

Source: Tickmill

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