GBP/USD – 1H – SELL

The combination British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support level at is likely expected.

Caution: A possible change in the direction of the resistance line at 1.37149 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair is likely to fall.

Besides a ‘MACD crosses below signal’ indicator signal is found. The indicator shows ‘MACD crosses below signal’. which is often a bearish chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.36227 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support level at 1.37149 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Shooting Star’ candlestick pattern is discovered. The chart forms ‘Shooting Star’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).

1.37149 – 1.37875 – 1.38473 – 1.36227 – 1.3742 – 1.37494 —
1.36914 – 1.36826 —
53.115417757183 – 51.046319640776 —
– —
1.37149 – 1770033600

Trading Signals: FOREX – GBP – GBP/USD – USD – Shooting Star – – – – – – – – –