Title
GBPUSD H1 I Bearish reversal
Type
Bearish Drop
Preference:
The price is currently at the pivot point of 1.2796, which is an overlap resistance level. A reverse from this point could lead the price to fall to the 1st support at 1.2746, a pullback support close to 50% Fibo
Alternative scenario:
If the price breaks above the pivot, it could rise to the 1st resistance at 1.2858, a multi-swing high resistance level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.