GBPUSD H1 | React off 61.8%

Title
GBPUSD H1 | React off 61.8%

Type
Bullish Bounce

Preference:

Price has just bounced off our pivot point at 1.23724 which is a pullback support level that aligns with a 61.8% Fibonacci retracement. A reverse from here, price could rally to 1st resistance ar 1.24231 which is a pullback resistance level

Alternative scenario:
However, if price breaks below the pivot, it could fall to 1st support at 1.23213 which is a swing low support 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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GBPUSD H1 | React off 61.8%

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