Potential Bearish Breakout | Tickmill

Potential Bearish Breakout

Bearish Breakout

Price is falling towards the pivot point of 1.08619 which is a pullback support level and could potentially break below this level; we could see momentum carry price down to its 1st support at 1.08148 which is a pullback support that aligns with the 78.6% Fibonacci retracement level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 1.08908 which is a pullback resistance level.

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