Title
GBPUSD M5 | Bearish reversal
Type
Bearish Reversal
Preference:
Wait for price to pullback at the pivot point at 1.27049 , an overlap resistance, A reverse from this point, could lead the price to fall to 1st support at 1.2671, a multi swing low support level
Alternative scenario:
If price breaks above the pivot, it might rise to 1st resistance at 1.2734
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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.