TitleGBPUSD H4 | Bearish reaction off 61.8% fibo?TypeBearish ReversalPreference:Price is approaching our pivot point at 1.2790, which is a multi-swing high resistance, and 61.8% fibo projection. Price could fall to the 1st support at 1.2708, which is slightly above the 50% fibo retracement and multi-swing low support level.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 1.2874, which is a swing high resistance and 100% fibo projection..To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
