GBPCAD H4 | Bearish drop off
Title
GBPCAD H4 | Bearish drop off
Type
Bearish reversal
Preference
The price could rise towards the pivot at 1.8677, an overlap resistance. A reversal at this level could lead the price toward the 1st support at 18542, an overlap support.
Alternative Scenario
If the price breaks above the pivot, it could rise toward the 1stresistance at 1.8748, 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.