Title
GBPUSD H4 | Bounce off from resistance

Type
Bearish Breakout

Preference:

The price is currently at our pivot level at 1.24158, which is an overlap resistance level and line up with a 38.2% Fibonacci retracement. If there is a reversal from this level, the price could potentially drop to 1st support level at 1.23515, which is a swing low support level

Alternative scenario:
However, if price were to break above the pivot, it could push up to 1st resistance at 1.24882 which is a swing high resistance

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