Type:
Bullish Bounce

Key levels:
Resistance:1.24024
Pivot:1.21828
Support:1.20365

Preference:
On the H4, with prices breaking above the ichimoku indicator, we have a bullish bias that price will drop and rise from our pivot at 1.21828 where the horizontal overlap support and 50% fibonacci retracement to our 1st resistance at 1.24024 in line with the 61.8% fibonacci projection, 61.8% fibonacci retracement and overlap resistance.

Alternative Scenario:
Alternatively, price may break pivot structure and head for 1st support at 1.20365 where the horizontal swing low support and 78.6% fibonacci retracement are.