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Look at this chart: from the minimum at 1.1208 to the maximum at 1.2296, I draw a Fibonacci fan, and we can see the pair has rebounded twice in the 50% of it. Those lines, are called speed lines, and have a reason to be with technical applications, will made a post about that later, yet right now, the pair is attempting to break a 4 hours descendant trend line, supported by bullish indicators, not confirming yet, but pointing to. From actual price, resistances will be at 1.2185, the zone @ 1.2210, followed by 1.2253, and finally 1.2300. Regarding supports, watch out for a pullback in smaller time frames to the 1.2140 zone (the mentioned trend line): if the pair manages to stay under, consider 1.2100 zone, followed bu 1.2055, 1.2020 and 1.1960.
