Title
GBPUSD H1 | React off resistance?
Type
Bearish reversal
Preference:
Price has just reacted off our pivot point at 1.3098 which is an overlap resistance level. A reverse from here, it could fall to 1st support level at 1.3050.
Alternative scenario:
1st resistance is at 1.3145 which is 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.