GBP/USD – 30M – SELLThe combination moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 1.30403 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.30715 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.3034954 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 1.30715 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30934 |
| 2nd High | 1.30829 |
| Next High | 1.30715 |
| Current Price | 1.30486 |
| Next Low | 1.30403 |
| 2nd Low | 1.30219 |
| 3rd Low | 1.30019 |