Type: Bearish BreakoutKey Levels:Resistance: 1738.4Pivot: 1721.1 Support: 1679.3Preferred Case:On the H4, with price moving within a descending channel and RSI moving in a descending trendline, we have a bearish bias that price will drop from pivot at 1721.1 where the pullback resistance is to 1st support at 1679.3 in line with 100% fibonacci projection and swing low support on the daily timeframe.Alternative Scenario:Alternatively, price could break pivot and rise to 1st resistance at 1738.4 where the 38.2% fibonacci retracement and swing high resistance are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gc1-h4-or-potential-bearish-continuation26"
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