GBP/USD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 1.30019 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 1.31110 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.32656 |
| 2nd High | 1.32380 |
| Next High | 1.31110 |
| Current Price | 1.30382 |
| Next Low | 1.30019 |
| 2nd Low | 1.29743 |
| 3rd Low | 1.29398 |