GBP/USD – 1H – SELLThe combination goes from the descending trendline downwards
A continuation of the downtrend down to the next support level at 1.31531 will continue.
Caution: A possible change in the direction of the resistance line at 1.33140 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.32403444 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 1.33140 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.33140 |
| Current Price | 1.32803 |
| Next Low | 1.31531 |
| 2nd Low | 1.31460 |
| 3rd Low | 1.31144 |