Type: Bearish ReversalKey Levels:Resistance: 1.2183Pivot: 1.21045Support: 1.17882Preferred Case:On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our pivot at 1.21045 where the horizontal pullback resistance and 23.6% fibonacci retracement are to our 1st support at 1.17882 in line with the 78.6% fibonacci projection and 61.8% fibonacci projection .Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 1.2183 where the horizontal overlap resistance and 38.2% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-bearish-momentum15"
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