GBP/USD – 1H – SELLThe currency pair goes from the descending trendline downwards
A continuation of the downward movement down to the next support level at 1.29442 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.30151 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.29442 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 1.30151 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30771 |
| 2nd High | 1.30708 |
| Next High | 1.30151 |
| Current Price | 1.29640 |
| Next Low | 1.29442 |
| 2nd Low | 1.29398 |
| 3rd Low |