GBPUSD H4 | Bullish bounce off pivot point?

TitleGBPUSD H4 | Bullish bounce off pivot point?TypeBullish BouncePreference:Price is approaching our pivot point at 1.2677, which is an overlap support level, right above the 100% fibo projection. Price could bounce off this overlap support and rise to the 1st resistance at 1.2752, which is at the 38.2% fibo retracement level.Alternative scenario:If price breaks below the pivot point, then price could potentially fall to the 1st support at 1.2603, which is the previous swing low support.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.