Type: Bearish ReversalKey Levels:Resistance:1.23999Pivot: 1.2229Support:1.19335Preferred Case:On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop from our pivot at 1.2229 where the horizontal overlap resistance and 23.6% fibonacci retracement are to our 1st support at 1.19335 in line with the 61.8% fibonacci projection and swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 1.23999 where the horizontal overlap resistance, 61.8% fibonacci projection and 61.8% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-bearish-momentum20"
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