TitleGBPUSD H4 | Bearish reaction off 50% retracement?TypeBearish ReversalPreference:Price is in a bullish momentum currently, due to the bounce off from our 1st support at 1.2843. Price could potentially approach our pivot point at 1.2997, and have a bearish reaction off the 50% fibo, and fall back down to our 1st support level, which there is also a 50% fibo above it.Alternative scenario:If price breaks above the pivot point, then price could rise all the way to the 1st resistance at 1.3137..To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
