TitleGBPJPY H4 I Reacting off resistance?TypeBearish ReversalPreference:The price is rising toward our pivot point at 181.24, which is an overlapping resistance level aligned with the 61.8% Fibonacci retracement. A reversal from this point could lead to a drop in price to the 1st support at 179.48, which is a swing-low support level.Alternative scenario:However, if the price breaks above the pivot, it could rise to the 1st resistance at 182.988, which is 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.
