Type: Bullish BounceKey Levels:Resistance: 1.26296Pivot: 1.23994Support: 1.22793Preferred Case:On the H4, with price moving above the Ichimoku indicator and the recent breakthrough in our descending trendline, we have a bullish bias that price will rise from our pivot at 1.23994 where the 23.60% Fibonacci retracement and horizontal overlap support is to our 1st resistance at 1.26296 in line with the horizontal swing high resistance.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.22793 where the horizontal pullback support and 61.8% Fibonacci retracement is.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-bullish-continuation"
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