GBP/USD – 4H – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.36165 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair could go down.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.337795 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.36165 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.36165 |
| Current Price | 1.34937 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.36165 – 1.35594 – 1.35928 – 1.34151 – 1.32502 – 1.31394