Title
GBPUSD H4 I Bullish Continuation
Type
Bullish Rise
Preference:
The price has just bounced off the pivot level 1.3155, a pullback support. A bounce off this level could lead the price toward the 1st resistance at 1.3442, a resistance that aligns with the 127.2% Fibonacci extension.
Alternative Scenario:
If price breaks below the pivot, it could fall toward the 1st support at 1.3012, a pullback support.
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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.