Title
EURUSD H4 | Reacting off 38.2%?

Type
Bullish Breakout

Preference:
The price is rising toward our pivot point of 1.05845, 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 1.05257, an overlapping support level.

Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.064, which also serves as a swing high resistance level.

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