Title
GBPUSD H4 | Potential bearish breakout
Type
Bearish Breakout
Preference:
Price is falling toward the pivot point of 1.2604 which is a multi-swing low support level. A breakout from this level price could continue to fall to 1st support at 1.2526, a swing low support level
Alternative scenario:
If price bounces the pivot, it could ride to 1st resistance at 1.2697, a pullback resistance
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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.