GBP/USD – 1H – SELLThe combination jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 1.30299 will continue.
Caution: A possible change in the direction of the resistance line at 1.30715 should be noted.
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 will continue. Current target is 1.30434704 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 1.30715 should be noted.
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 | 1.30536 |
| Next Low | 1.30299 |
| 2nd Low | 1.30219 |
| 3rd Low | 1.30019 |