EURUSD H4 | Reacting off a pullback resistance?

TitleEURUSD H4 | Reacting off a pullback resistance?TypeBearish ReversalPreference:The price is rising toward our pivot point of 1.06329, which serves as a pullback resistance level aligning with the 50% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.05276, an overlapping support level that aligns with the 78.6% Fibo retracement,Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.07016, which is slightly above the 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.