Title
GBPUSD 1H | Bullish Continuation
Type
Bullish Trend
Preference:
The price is falling toward the pivot level at 1.2209, signaling potential bullish momentum. A bounce off this level could drive the price toward the 1st resistance at 1.2297, which aligns with a previous swing high.
Alternative Scenario
If the price breaks below the pivot level, it may fall towards the 1st support at 1.2177, a strong overlap support area.
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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.