Title
GBPUSD H1 | Potential Bullish Bounce

Type
Bullish Bounce

Preference:
Price could fall towards the pivot point of 1.2948 which is a pullback support that aligns with the 23.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.3048 which is a resistance that aligns with the 61.8% Fibonacci projection level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 1.2909 which is a pullback support that sits below the 38.2% Fibonacci retracement level.

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