GBPUSD H1 | React off 1st resistance

Title
GBPUSD H1 | React off 1st resistance

Type
Bullish Breakout

Preference:

Price is approaching our pivot point of 1.27699 which is an overlap resistance level. If it reverse from here, price could fall to 1st support level at 1.26979 which is an overlap support that aligns with 38.2% FIbo retracement

Alternative scenario:

However. if price breaks above the pivot, it could rally towards to 1st resistance at 1.28412 which is a swing high 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 | React off 1st resistance

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