GBP/USD – 1H – SELLThe currency pair jumps from the ascending trendline downwards
A descending movement down to the next support line at 1.29577 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.30013 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.29790924 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.30013 could happen.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30708 |
| 2nd High | 1.30151 |
| Next High | 1.30013 |
| Current Price | 1.29984 |
| Next Low | 1.29577 |
| 2nd Low | 1.29393 |
| 3rd Low | 1.29072 |