Title
GBPUSD M15 | Bullish Rise

Type
Bullish Rise

Preference:
Price is currently at the pivot point of 1.2426 which aligns with the 161.8% Fibo extension. A bounce from this level could lead the price to rise to 1st resistance at 1.2464, an overlap resistance level close to the 61.8% Fibo retracement.

Alternative scenario:
If price breaks below the pivot, it could fall to 1st support at 1.2406 which aligns with the 127.2% Fibo extension

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