GBP/USD – 30M – SELLThe currency pair moves from the bearish trendline down.
A continuation of the bearish trend down to the next support at 1.33741 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.34227 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 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 1.338375 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.34227 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34336 |
| 2nd High | 1.34271 |
| Next High | 1.34227 |
| Current Price | 1.33974 |
| Next Low | 1.33741 |
| 2nd Low | 1.33656 |
| 3rd Low | 1.33598 |