when you say brace - do you mean pin guard???

If so can you gang adjust it up, then move the pin down??

Is the bow tuned - a very nock low arrow can cause this.

if you move your peep you WILL change your anchor - whether it changes it for the better or worse I can' t say

Most of the time when a peep is too high, so that it causes problems like yours it is because your draw is to long.