GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the descending trendline down.
A continuation of the downward movement down to the next support line at 1.25067 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.26132 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 1.25406192 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.26132 should always be considered.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27142 |
| 2nd High | 1.26595 |
| Next High | 1.26132 |
| Current Price | 1.25754 |
| Next Low | 1.25067 |
| 2nd Low | 1.24870 |
| 3rd Low |