Title

GBPUSD  H4 | Bearish Reversal 

Type

Bearish Reversal 

Preference:

The price is moving towards the pivot level of 1.3320, which acts as a pullback resistance close to the 38.2% Fibonacci retracement. A reversal at this level might cause the price to drop to the 1st  support level at 1.3240, an overlap support close to the 161.8% Fibonacci extension.

Alternative Scenario:

 If the price breaks above the pivot, it could rise to the 1st resistance level at 1.3423, which serves as a multi swing high resistance.