Title
GBPUSD H4 | React off 78.6%

Type
Bullish Breakout

Preference:

The price is rallying towards our pivot point of 1.25044, which aligns with a 78.6% Fibonacci retracement. If there is a reversal from this level, the price could fall to the first support at 1.24172.

Alternative scenario:
However, if the price breaks the pivot, it could reach our first resistance at 1.25493.

Additionally, price is respecting the descending trendline, suggesting that it is in a bearish momentum.  

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