Type: Bullish BreakoutKey Levels:Resistance: 1.21593Pivot: 1.20546 Support: 1.1931Preferred Case:On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 1.20546 where the pullback resistance is. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 1.21593 where the pullback resistance, 127.2% fibonacci extension and 61.8% fibonacci retracement are.Alternative Scenario:Alternatively, price could drop to 1st support at 1.1931 where the pullback support and 50% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpusd-h4-or-potential-bullish-continuation27"
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