GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
The bullish trend up to the next resistance line at 1.26595 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.26228 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.26637 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.26595 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27202 |
| 2nd High | 1.27142 |
| Next High | 1.26595 |
| Current Price | 1.26372 |
| Next Low | 1.26228 |
| 2nd Low | 1.26132 |
| 3rd Low | 1.26127 |