GBP/USD – 30M – SELLThe combination jumps from the bullish trendline down.
A descending movement down to the next support at 1.32712 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.33404 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.324675 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.33404 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.33404 |
| Current Price | 1.32826 |
| Next Low | 1.32712 |
| 2nd Low | 1.32198 |
| 3rd Low | 1.31531 |