#GBPUSD, H4 has reversed from Pivot, potential for drop

Price is reacting below our pivot level at 1.38961 which is in line with 61.8% Fibonacci retracement level. Price can potentially take support at 1.37552, which is in line with 127.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 1.39442, which coincides with 78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance . This is further supported by

Pivot:
1.38961

Why we like it:
61.8% Fibonacci retracement level

1st Support:
1.37552
127.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal swing low support

1st Resistance:
1.39442
78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance
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