EURUSD H4 | Reacting off 61.8% Fibo?

TitleEURUSD H4 | Reacting off 61.8% Fibo?TypeBearish ReversalPreference:Price is rising toward our pivot point of 1.05502, which serves as a pullback resistance level aligning with the 61.8% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.04886,  an overlap support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.06239, which also serves as an overlap resistance levelTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.