GBP/USD – 1H – SELL

The currency pair British Pound/US Dollar (GBP/USD) goes from the descending trendline down.

A continuation of the downtrend down to the next support line at 1.308 will continue.

Caution: A possible change in the direction of the resistance zone at 1.31174 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘%K crosses below %D’ indicator signal is found. The indicator is ‘%K crosses below %D’. which is often a bearish chart scenario. The pair is likely to go down.

Then a ‘MACD crosses below signal’ indicator signal is found. The indicator is ‘MACD crosses below signal’. which is often a bearish chart scenario. The pair is likely to go down.

Then a ‘Northern Doji’ candle pattern is found. The candles form ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.31174 – 1.31088 – 1.31231 – 1.308 – 1.30382 – 1.3037 —
1.31152 – 1.31152 —
60.047833576244 – 55.042406296071 —
– —
1.31174 – 1763996400

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –