Title
GBPJPY H4 | Bullish bounce off 61.8% fibo?

Type
Bullish Bounce

Preference:

Price has reacted off our pivot point at 185.32, which is an overlap support level and at the 61.8% fibo retracement level. We can expect price to rise towards our 1st resistance at 186.70, which is a swing high resistance level.

Alternative scenario:

If price breaks below the pivot, then price could fall to the 1st support level at 184.58, which is a pullback support level.

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