InvestingScope
Short

GBPUSD: Recurring 4H bearish formation.

FX_IDC:GBPUSD   British Pound / U.S. Dollar
The pair has been trading within a 1D Channel Down ( RSI = 43.598, MACD = -0.004, Highs/Lows = 0.0000) since May that has been providing clear Sell (via Lower Highs) and Buy (via Lower Lows) opportunities.

4H is about to print a recurring bearish formation (Golden Cross into Death Cross) within the Channel Down pattern that has been a strong sell signal. We are taking this sell opportunity with TP = 1.2020 and 1.1700 in extension (if the price breaks below the Channel Down median (dashed line)).




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