GBP/USD – 30M – SELLThe currency pair jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.30551 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.31051 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.30688352 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 1.31051 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31340 |
| 2nd High | 1.31133 |
| Next High | 1.31051 |
| Current Price | 1.30726 |
| Next Low | 1.30551 |
| 2nd Low | 1.30321 |
| 3rd Low | 1.30316 |