Title
GBPUSD H4 | Potential reverse from 61.6%

Type
Bearish Reversal

Preference:

Price is approaching our pivot at 11.25241, which is a multi-swing high resistance that lines up with the 61.8% Fibonacci projection. If it breaks above, it could reach the 1st resistance at 1.25885, which also lines up with the -27.2% Fibonacci expansion.

Alternative scenario:
However, if the price were to reverse, it could drop down to the 1st support at 1.24365, which aligns with the 38.2% Fibonacci retracement.

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