Title
GBPUSD H4 | Potential bearish reversal
Type
Bearish Reversal
Preference:
Price is currently our pivot point at 1.2148 which is just slightly below a 78.6% Fibonacci retracement. price could potentially drop to 1st support at 1.20253
Alternative scenario:
If Price were to break above the pivot point, it could push up to 1st resistance at 1.2202
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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.