GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the bearish trendline down.
A continuation of the downtrend down to the next support line at 1.26305 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.27142 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.26224738 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.27142 should always be considered.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27686 |
| 2nd High | 1.27202 |
| Next High | 1.27142 |
| Current Price | 1.26501 |
| Next Low | 1.26305 |
| 2nd Low | 1.26132 |
| 3rd Low | 1.25975 |