GBPUSD H1 | Falling to support level?

Title
GBPUSD H1 | Falling to support level?

Type
Bearish Drop

Preference:
Price has just reacted off the pivot point of 1.2789, an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.2729, an overlap support level.

Alternative scenario:
If the price breaks above the pivot, it could rise to the 1st resistance at 1.1.2853, which also serves as an overlapping resistance level.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

Source: Tickmill

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GBPUSD H1 | Falling to support level?

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