TitleGBPUSD H4 | Rising into resistance?TypeBearish ReversalPreference:Price could rise towards the pivot point of 1.21038 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.19463 which is a level that aligns with the 100.0% Fibonacci extension level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.22000 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement 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.
