Title
GBPUSD H4 | Falling to support level?

Type
Bearish Reversal

Preference:

Price is currently at our pivot of 1.2242 which is an overlap resistance level that aligns with the 61.8% Fibo retracement. 

A bounce from this point could lead the price to rise to the 1st resistance at 1.23009, a multi-swing high resistance

Alternative scenario:
However, if the price breaks below the pivot, it might decline to the 1st support at 1,2527, below the 78.6% Fibo retracement.

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