EURUSD H4 | Falling to 78.6% Fibo support

TitleEURUSD H4 | Falling to 78.6% Fibo supportTypeBullish BouncePreference:Price is falling towards the pivot point of 1.09221 which is an overlap support that aligns with the 78.60% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.10349 which is an overlap resistance that aligns with the 38.20% Fibonacci retracement level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 1.08389 which is an overlap support 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.