Pullback Resistance at 61.8% Fibo

TitlePullback Resistance at 61.8% FiboTypeBearish ReversalPreference:Price could rise towards the pivot point of 1.27362 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26573 which is a swing-low support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.27752 which is 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.