Title
GBPJPY H4 | Potential Bearish reversal?

Type
Bearish Reversal

Preference:
Price has reacted off our pivot point at 186.3, which is aligned with a swing high resistance way back in December 2015. This could be a potential bearish reversal, and price could fall to our 1st support level at 185.25.

Alternative scenario:
If price breaks above the pivot, price could rise to the 1st resistance at 187.41, which is slightly above the 100% fibo projection.

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