GBPUSD H4 | Bearish Reversal
Title
GBPUSD H4 | Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving towards the pivot level of 1.3408, which acts as a pullback resistance. A reversal at this level might cause the price to drop to the 1st support level at 1.3339, an overlap support near the 78.6 Fibonacci retracement.
Alternative Scenario:
If the price surpasses the pivot, it could rise to the 1st resistance level at 1.3434, which serves as a swing-high resistance