Title
GBPUSD H4 | Bearish Reversal
Type
Bearish Reversal
Preference:
Price is rising toward the pivot of 1.2760, a pullback resistance close to the 61.8% Fibo retracement, A fall from this level could lead the price to fall to 1st support at 1.2689, a multi-swing low support.
Alternative scenario:
If price breaks above the pivot, it could rise to 1st resistance at 1.2816, a swing-high resistance
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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.