TitleGBPJPY H4 | Bearish reversal at 61.8% fibo projection?TypeBearish ReversalPreference:Price is currently in a bullish momentum, heading towards our pivot point at 181.57, which aligns with the 61.8% fibo projection. Price could potentially become bearish once it reaches our pivot point, and fall towards the 1st support at 179.708, which is a multi-sing low support.Alternative scenario:If price breaks above the pivot point, then price could head towards the 1st resistance at 182.325, which is at the 61.8% fibo retracement, and a swing high resistance 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.
