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GBPUSD H4: Bearish outlook seen, reversal below 1.2170

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Libra Esterlina/Dólar Americano (FOREXCOM:GBPUSD)  
T3-Consultancy  
FOREXCOM:GBPUSD   Libra Esterlina/Dólar Americano
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdlong gbpusdshort Forex forextrading forexsignals
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On the H4 time frame, prices are approaching the resistance zone at 1.2170, in line with the Fibonacci confluence levels where we could see a reversal below this level. The 1.2170 resistance zone coincides with the graphical resistance zone, 38.2% Fibonacci retracement and 100% Fibonacci extension level. Prices are facing bearish pressure from the Ichimoku cloud as well.
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