Title
GBPUSD Day | React off resistance
Type
Bearish Reversal
Preference:
Price is currently at our pivot point of 1.25776 which is a pullback resistance level. A reverse from here. price could fall to 1st support at 1.25266 which is a pullback support level.
Alternative scenario:
However, if price breaks above the pivot, it could rally to 1st resistance at 1.26464 which is a multi swing high resistance level
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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.