Title
GBPUSD H4 | Bearish Continuation Expected?

Type
Bearish Reversal

Preference:
The price is rising toward our pivot point of 1.22123 – 1.2204 which serves as a pullback resistance level aligning with the 38.2% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.21218, a multi-swing low support level.

Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.22896, which is a swing-high resistance level.

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