Title

GBPUSD  H4 | Bearish Reversal 

Type

Bearish Reversal 

Preference:

The price is moving up towards the pivot level of 1.3103, which acts as an overlap resistance close to 23.60% Fibonacci retracement.  A reversal at this level could cause the price to drop to the 1st  support at 1.3033, a multi swing low support.

Alternative Scenario:

 If the price breaks above the pivot, it may rise to the 1st resistance level at 1.3170, an overlap resistance close to the 38.20% Fibonacci retracement.