On the H4, with the price moving within the descending channel and below ichimoku cloud, we have a bearish bias that the price may drop from the 1st resistance at 0.60373, which is in line with the pullback resistance and 38.2% fibonacci retracement to the 1st support at 0.59624, where the 78.6% fibonacci projection and 127.2% fibonacci extension are. Alternatively, the price may rise to the 2nd resistance at 0.60771, which is in line with the overlap resistance and 61.8% fibonacci retracement . Trading Recommendation
Entry: 0.60373
Reason for Entry:Pullback resistance and 38.2% fibonacci retracement
Take Profit: 0.59062
Reason for Take Profit: 78.6% fibonacci projection and 127.2% fibonacci extension
Stop Loss: 0.60771
Reason for Stop Loss:
Overlap resistance and 61.8% fibonacci retracement
