Title
GBPUSD Day | Bullish bounce
Type
Bullish Bounce
Preference:
GBPUSD has bounced off the pivot at 1.27669, a pullback support, and is rising to the 1st resistance at 1.29933, the swing-high resistance.
Alternative scenario:
The price could pullback and reverse to the 1st support at 1.26335, the swing-low support.
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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.