GBPUSD D1 | Resistance overhead

TitleGBPUSD D1 | Resistance overheadTypeBearish ReversalPreference:Price is rising towards the pivot point of 1.27953 which is an overlap resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.25013 which is an overlap support that aligns with the 38.2% Fibonacci retracement level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.29523 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement 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.