GBPUSD is approaching pivot, potential for bounce | 6th Oct

On the h4 chart , price has recently broken out from the descending trendline and is currently testing the price entry. If price were to break the 50% Fibonacci retracement level and 78.6% Fibonacci projection level, it can potentially go up to its take profit level of 0.93295 which is in line with Fibonacci projection level of 100% and retracement level of 61.8%.
Alternatively, if price were to break its first support of 1.36126 it can potentially dip towards the stop loss of 1.35593.
The Ichimoku cloud indicator shows that price is going to break out of the cloud and thus supporting our bullish momentum.

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