TitleEURGBP H4 | Bearish reaction off pivot?TypeBearish ReversalPreference:Price is approaching our pivot point at 0.8686, which is a swing-high resistance key level, and it aligns with the 50% fibo retracement. Price could potentially have a bearish reaction off the pivot point to fall to the 1st support at 0.8648, which is a pullback support key level, and a 23.6% fibo retracement.Alternative scenario:If price breaks above the pivot point, there is a possibility that price would most likely rise to the 1st resistance, an overlap resistance key level and 61.8% fibo retracement, at 0.8729.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
