Title
EURGBP H4 | Bullish breakout
Type
Bullish Breakout
Preference:
EURGBP is rising to the pivot at 0.85452, the overlap resistance that coincides closely with the 61.8% Fibonacci retracement. Price could break this level and rise to 1st resistance at 0.85703, the overlap
Alternative scenario:
The price might reverse and fall to 1st support at 0.85171, the 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.