Title
GBPJPY H4 | Bearish reversal

Type
Bearish Reversal

Preference:
The price could rise to the pivot at 188.776, the multi-swing high resistance, from the pivot it could potentially reverse to the 1st support at 187.505, the overlap support.

Alternative scenario:

The price could rise and break out of pivot and continue rising to 1st resistance at 189.447, the resistance that aligns with 127.2% Fibonacci extension.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.