Type: Bearish ReversalKey Levels:Resistance: 154.47Pivot: 153.935Support: 152.656Preferred Case:Prices are on bearish momentum and abiding to our descending trendline resistance. We see the potential for further dips from our Pivot at 153.935 in line with 23.6% Fibonacci retracement towards our 1st support at 152.656 in line with 127.2% Fibonacci extension. Prices are trading below our Ichimoku cloud resistance further supporting our bearish bias.Alternative Scenario:Alternatively, prices may climb even higher towards our 1st resistance at 154.47 in line wtih 38.2% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpjpy-h4-or-bearish-momentum"
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