GBPUSD H1 | Bearish reversal setup
Title
GBPUSD H1 | Bearish reversal setup
Type
Bearish reversal
Preference
The price is rising toward the pivot at 1.3287, a pullback resistance level. A reversal from this level could push the price toward the 1st support at 1.3218, a swing low support.
Alternative Scenario
If the price breaks above the pivot, it could rise toward the 1st resistance at 1.3342, which acts as 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.