TitleGBPJPY H4 | Bullish reversal off 78.6% fibo?TypeBullish BouncePreference:Price has made a lower high, and we can expect price to fall further to our pivot point at 184.06, which is an overlap support level, aligning with the 61.8% fibo projection and 78.6% fibo retracement. Price could potentially reverse from our pivot point, and rise towards the 1st resistance at 185.24, which is an overlap resistance level.Alternative scenario:If price breaks below the pivot point, then price could fall to the 1st support at 183.43, which is a multi-swing low support level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
