Title
EURGBP Day | Bullish breakout
Type
Bullish Breakout
Preference:
The price could breakout of pivot at 0.85528, the overlap resistance, and rise to the 1st resistance at 0.86106, also an overlap resistance and it aligns with the 50% Fibonacci retracement.
Alternative scenario:
Price might reverse and fall to the 1st support at 0.85036, the multi-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.