Type: Bearish MomentumKey Levels:Resistance: 1.1953Pivot: 1.1895Support: 1.1783Preferred Case:On the H1, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 1.1895 in line with the pullback resistance to the 1st support at 1.1783 where the 161.8% fibonacci extension and 100% fibonacci projection are.Alternative Scenario:Alternatively, price may break pivot structure and rise to the 1st resistance at 1.1953 where the pullback resistance is.Fundamentals:With no major news events ahead, and the dovish sentiment across the UK and the Eurozone, further downside can be expected, which gives us a bearish bias on the British Pound.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/british-pound-futures-6b1-h4-potential-for-bearish-drop"
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