GBPUSD H4 | Bullish Bounce
Title
GBPUSD H4 | Bullish Bounce
Type
Bullish Bounce
Preference:
The price is falling toward the pivot level of 1.2886, which acts as a pullback support close to 127.2% Fibonacci extension. A reversal at this level could cause the price to rise to the 1st resistance at 1.3033, an overlap resistance.
Alternative Scenario:
If the price breaks below the pivot, it may drop to the 1st support level at 1.2724, an overlap support level.