Potential for Bullish Continuation

On the H4, with price moving above the ichimoku cloud and price moving within the ascending trend channel, we have a bullish bias that price will rise to our 1st resistance and take profit at 0.74603 where the swing high is in line with the 78.6% Fibonacci retracement from our pivot 0.71718. Alternatively, price may break support structure at the pivot and head for stop loss and support at 0.70435 where the horizontal pullback support is, in line with the 78.6% fibonacci projection and 23.6% Fibonacci retracement.

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