Title
GBPUSD H4 | Falling to support level
Type
Bearish Breakout
Preference:
The price could break through the pivot at 1.26297, multi-swing low support, and reverse to the 1st support at 1.2508, the pullback support level.
Alternative scenario:
Alternatively, the price could rise to the 1st resistance at 1.27452, the swing-high resistance from the pivot at 1.26297.
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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.