Title
GBPUSD H4 | Potential bearish breakout
Type
Bearish Breakout
Preference:
Price could break through pivot point of 1.24241 and potentially drop further from here; we could see momentum carry price down to its 1st support of 1.239.
Alternative scenario:
If price does not break below the pivot point, it could hit the 1st resistance of 1.24497.
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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.