Title
GBPJPY H4 | Bullish breakout to the upside
Type
Bullish Breakout
Preference:
Price is approaching the pivot point of 176.927 and could potentially break out of this level; we could see momentum carry price up to its 1st resistance of 178.116.
Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support of 175.479.
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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.