GBP/USD – 30M – BUYThe pair breaks through the descending trendline up.
A bullish movement upwards to the next resistance at 1.31051 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 1.30760 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.3100438 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.31051 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31340 |
| 2nd High | 1.31133 |
| Next High | 1.31051 |
| Current Price | 1.30877 |
| Next Low | 1.30760 |
| 2nd Low | 1.30639 |
| 3rd Low | 1.30588 |