GBPUSD H4 | Bearish reversal
Title
GBPUSD H4 | Bearish reversal
Type
Bearish Reversal
Preference:
Price is rising toward the pivot point of 1.2422, a pullback resistance close to the 61.8% Fibonacci retracement level. A reversal from this level could lead the price to fall to 1st support level at 1.2362, a swing-low support level.
Alternative scenario:
If the price breaks above the pivot, it could rise to 1st resistance at 1.2499, a swing-high resistance level
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