Micro GBP/USD Futures

MICRO GBP/USD Futures (M6B1!), H4 Potential for Bullish Rise

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Type : Bullish rise
Resistance :1.1609
Pivot:1.1504
Support : 1.1445

Preferred Case: On the H4, with the price pullback from the support, breaking the descending trendline, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 1.1504, where the current price is to the 1st resistance at 1.1609 where the overlap resistance and 38.2% Fibonacci retracement are.


Alternative scenario: Alternatively, price could drop to the support at 1.1445, where the swing low is.

Fundamentals: Halifax HPI m/m is out today, which is better than the expectation and previous data.

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