GBPJPY H4 | Falling to support level

Title
GBPJPY H4 | Falling to support level

Type
Bearish Reversal

Preference:
GBPJPY is trading close to the pivot at 189.047, the pullback support. The price could potentially break below the pivot and drop towards the 1st support at 188.061, the swing-low support.

Alternative scenario:
The price could break above the pivot and continue to rise to 1st resistance at 189.997, a level that aligns with the 61.8% Fibonacci retracement level.

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

Source: Tickmill

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GBPJPY H4 | Falling to support level

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