Title

GBPJPY  H1 | Bearish Reversal 

Type

Bearish Reversal 

Preference:

The price is moving towards the pivot level of 193.23, which acts as a pullback resistance close to the 50% Fibonacci retracement. A reversal at this level might cause the price to drop to the 1st  support level at 190.33, an overlap support.

Alternative Scenario:

 If the price breaks above the pivot, it could rise to the 1st resistance level at 195.72, which serves as a swing-high resistance.