Title

GBPUSD H1 I | Bearish reversal at major resistance

Type

Bearish reversal

Preference:
The price is rising towards the pivot at 1.3502, an overlap resistance. A reversal at this level could lead the price toward the 1st support at 1.3417, a pullback support.

Alternative Scenario:

If the price breaks above the pivot, it could rise toward the 1st resistance at 1.3555, a pullback resistance that aligns with the 138.2% Fibonacci extension.