MICRO GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish rise
Resistance :1.1774
Pivot:1.1650
Support : 1.1497
Preferred Case: On the H4, with the price breaking the descending trendline and ichimoku cloud, we have a bullish bias that the price may rise from the pivot at 1.1650, where the current price and overlap resistance are to the 1st resistance at 1.1774 where the overlap resistance and 38.2% fibonacci retracement are.
Alternative scenario: Alternatively, price could drop to the support at 1.1497, where the 61.8% fibonacci retracement is.
Fundamentals: Although many data of GBP out today are lower than expectation, the drop of DXY has stronger impact on the price. Therefore, we hold a weak bullish bias.
M6b
MICRO GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : 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.

