GBP/USD – 1H – BUYThe pair breaks through the bearish trendline up.
The bullish trend upwards to the next resistance line at 1.30231 is expected.
Caution: A possible reversal of the trend in the direction of support at 1.29735 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.303815 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.30231 could happen.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31028 |
| 2nd High | 1.30771 |
| Next High | 1.30231 |
| Current Price | 1.30125 |
| Next Low | 1.29735 |
| 2nd Low | 1.29398 |
| 3rd Low |