Bullish Outlook Seen On GBPUSD
On the H4 time frame, prices are approaching the support zone at 1.15500 which coincides with the 23.6% Fibonacci retracement and 38.2% Fibonacci extension level. A break above the 1.17300 intermediate resistance could provide the bullish acceleration to the next resistance zone at 1.23200, which coincides with the 78.6% Fibonacci retracement level. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.
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