GBP/USD – 1H – SELLThe combination moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 1.29556 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.29981 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 1.296115 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 1.29981 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30708 |
| 2nd High | 1.30151 |
| Next High | 1.29981 |
| Current Price | 1.29867 |
| Next Low | 1.29556 |
| 2nd Low | 1.29072 |
| 3rd Low |