On the H4, with prices breaking out of the ascending channel, we have a bearish bias that prices will drop to 1st support at 107.295 where the 38.2% fibonacci retracement is. Once there is downside confirmation of price breaking 1st support, we would expect bearish momentum to carry price to 2nd support at 105.770 in line with overlap support. Alternatively, price may rise back to the entry at 107.984 where the 23.6% fibonacci retracement is. Once price breaks the entry, we would expect bullish momentum to carry price to 2nd resistance at 109.245 where the swing high resistance is.
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