GBPJPY H4 | Bearish reaction off 127.2% fibo?

TitleGBPJPY H4 | Bearish reaction off 127.2% fibo?TypeBearish ReversalPreference:Price is hovering below our pivot point at 182.66, which is a pullback resistance level, aligning with the 127.2% fibo extension. Price could react bearishly and fall to the 1st support at 181.83, which is a pullback support level.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 183.34, which is a multi-swing high resistance level and slightly above the 161.8% fibo extension..To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.