GBPUSD H4 | React off 78.6%
Title GBPUSD H4 | React off 78.6%Type Bullish BreakoutPreference:The price is rallying towards our pivot point of 1.25044, which aligns with a 78.6% Fibonacci retracement. If there is a reversal from this level, the price could fall to the first support at 1.24172....
TitleGBPUSD H4 | React off 78.6%TypeBullish BreakoutPreference:The price is rallying towards our pivot point of 1.25044, which aligns with a 78.6% Fibonacci retracement. If there is a reversal from this level, the price could fall to the first support at 1.24172.Alternative scenario:However, if the price breaks the pivot, it could reach our first resistance at 1.25493.Additionally, price is respecting the descending trendline, suggesting that it is in a bearish momentum. To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
