Overview
In today's H4 chart and as it was expected yesterday, the pair took a new bullish signals after closing 4H below the resistance level of 157.80 after it was tested yesterday. Today the pair rapidly reversed its downward movement after hitting the support level of 156.80 to bounce from it and take a slightly upward move. Currently, the price is trading below the resistance level of 157.80. More bullish signals are still expected in case of closing above this resistance level with first target few pips below the resistance level of 158.30, hence we should wait for more confirmations before making the decision.
Resistance and support levels: R3 (158.80) R2 (158.30) R1 (157.80), S1 (156.80), S2 (156.00), S3 (155.20).