Type: Bearish ReversalKey Levels:Resistance: 1.2406Pivot: 1.2154Support: 1.19353Preferred Case:On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will rise and drop from our pivot at 1.2154 where the horizontal overlap resistance, 100% fibonacci projection and 50% fibonacci retracement are to our 1st support at 1.19353 where the horizontal swing low support and 78.6% fibonacci projection are.Alternative Scenario:Alternatively, price could rise above pivot structure and head to 1st resistance at 1.2406 in line with the swing high resistance.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-bearish-drop"
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