Looking at the H4 chart, my overall bias for GBPUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Expecting price to head back up to possibly continue heading towards the 1st resistance at 1.26669, where the previous swing high is. In an alternative scenario, price could possibly head back down to retest the 1st support at 1.22770, where the previous swing high is.
Trading Recommendation
Entry: 1.22770
Reason for Entry:
Retest 1st support level
Take Profit: 1.26669
Reason for Take Profit:1st resistance line
Stop Loss: 1.21062
Reason for Stop Loss:
Previous swing low
