Title
GBPJPY H4 | Bearish reversal
Type
Bearish Reversal
Preference:
GBPJPY could rise to the pivot at 184.047, the swing-high resistance, before pulling back and falling to the 1st support at 181.86, the pullback support level.
Alternative scenario:
The price could break the pivot at 184.047, and rise to the 1st resistance at 184.838, the multi-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.