Title
GBPJPY H4 | Bullish bounce off pivot?

Type
Bullish Bounce

Preference:

Price is falling to our pivot point at 180.61, which is a multi-swing low support level. If price rejects and bounces off the pivot point, then price could potentially rise towards the 1st resistance at 181.88, which is a pullback resistance level.

Alternative scenario:

If price breaks below the pivot point, then price could fall to the 1st support level at 179.46, which is a pullback support level, aligning with the 161.8% fibo extension.

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