GBP/USD – 30M – SELLThe combination goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 1.30219 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.30715 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.3034954 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 1.30715 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30934 |
| 2nd High | 1.30829 |
| Next High | 1.30715 |
| Current Price | 1.30383 |
| Next Low | 1.30219 |
| 2nd Low | 1.30019 |
| 3rd Low | 1.29743 |