Title
GBPJPY H4 | Bearish reversal off 61.8% fibo?

Type
Bearish Reversal

Preference:
Price could rise towards our pivot point at 183.85, which is a multi-swing high resistance level, aligning with the 61.8% fibo projection. If price rejects our pivot point, then price could fall to the 1st support level at 182.29, which is an overlap support and at the 61.8% fibo retracement.

Alternative scenario:
If price breaks above the pivot point, then price could rise towards the 1st resistance at 184.38, which is a multi-swing high resistance level and placed slightly above the 78.6% fibo projection.

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