GBP/USD – 1H – BUYThe combination breaks through the bearish trendline upwards
A bullish movement up to the next resistance at 1.30708 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.29767 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.30040148 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.30708 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31028 |
| 2nd High | 1.30771 |
| Next High | 1.30708 |
| Current Price | 1.29789 |
| Next Low | 1.29767 |
| 2nd Low | 1.29735 |
| 3rd Low | 1.29398 |