TitleGBPJPY H4 | Potential Bullish Bounce off 23.6% Fibo?TypeBullish BouncePreference:Price has reversed from the previous bullish run, and could become bearish in the long run. If price reaches our pivot point at 183.9, we could see a bullish bounce off the 23.6% fibo retracement level. Price could head towards the 1st resistance level at 185.3, which is an overlap resistance.Alternative scenario:If price breaks below the pivot point, then price could potentially fall to the 1st support at 183.09, which is a pullback support level, to continue its bearish run.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
