Title
GBPUSD H4 | Potential bearish reversal?

Type
Bearish Reversal

Preference:
The price has just reacted off our pivot point of 1.23359, which serves as a swing-high resistance level aligning with the 127.2% Fibonacci extension. A reversal from this point could lead to a price drop to the 1st support at 1.22596, an overlapping support level.

Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.24193, which also serves as a resistance level.

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