Type: Bearish ReversalKey Levels:Resistance: 1.57894Pivot: 1.57052Support: 1.54814Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 1.57052 in line with the pullback resistance to the 1st support at 1.54814 at the horizontal swing low and 78.6% fibonacci projection.Alternative Scenario:Alternatively, price may rise above the pivot to the 1st resistance at 1.57894 in line with the 38.2% fibonacci retracement and pullback resistance.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpcad-h4-or-potential-bearish-continuation"
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