GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline down.
A bearish descent downwards to the next support line at 1.26132 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.26952 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.26721428 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 1.26952 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27202 |
| 2nd High | 1.26966 |
| Next High | 1.26952 |
| Current Price | 1.26887 |
| Next Low | 1.26132 |
| 2nd Low | 1.26127 |
| 3rd Low | 1.25975 |