Type: Bearish ReversalKey Levels:Resistance: 1.23403Pivot: 1.22834Support: 1.22023Preferred Case:Price is abiding to the descending trendline resistance, signifying bearish momentum. We can expect price to drop from pivot level in line with 50% Fibonacci retracement and 127.2% Fibonacci projection towards 1st Support in line with 127.2% Fibonacci extension.Alternative Scenario:Alternatively, price can push up to 1st Resistance in line with 78.6% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpchf-h4-or-bearish-continuation"
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