Type: Bullish BounceKey Levels:Resistance: 1.33004Pivot: 1.31219Support: 1.3058Preferred Case:Prices are on bullish momentum and abiding by our ascending trendline support. We see the potential for a bounce from our Pivot at 1.31219 in line with 50% Fibonacci retracement towards our 1st resistance at 1.33004 in line with 78.6% Fibonacci projection. RSI are at levels where bounces previously occurred.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 1.3058.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-for-bounce4"
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