GBPUSD H4 | Reacting off swing high?

TitleGBPUSD H4 | Reacting off swing high?TypeBearish ReversalPreference:The price is rising toward our pivot point of 1.2224, 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 1.2174, an overlapping support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.2266, which also serves as a swing high resistance 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.