Potential Bearish Momentum

TitlePotential Bearish MomentumTypeBearish ReversalPreference:Price has just reversed off the pivot point of 1.34038 which is a pullback resistance level and could potentially drop lower from here; we could see momentum carry price down to its 1st support at 1.33397 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.34472 which is a pullback 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.