# GBP/USD Descending Channel (November 18, 2013) Source: https://www.tradersway.com/resources/market-info/gbp-usd-descending-channel-november-18-2013/ Language: en Updated: 2013-11-18 Description: Explore GBP/USD Descending Channel (November 18, 2013). Last week’s. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. Last week’s anti-dollar sentiment and relatively upbeat data from the U.K. has triggered a bounce from the bottom of the descending support level on GBP/USD, yet a descending resistance level can also be seen. The pair is on its way to test the top of the falling channel on the 4-hour time frame while stochastic is indicating overbought conditions. Once the oscillator crosses below the oversold region, a selloff might take place as bears push the pair back to the middle or possibly the bottom of the channel. ![GBP/USD Descending Channel (November 18, 2013)] Shorting around the top of the channel around 1.6150 with a stop above 1.6200 could mean at least a 4:1 return on risk, depending on how wide the stop is. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbp-usd-descending-channel-november-18-2013/#primary", "url": "https://www.tradersway.com/resources/market-info/gbp-usd-descending-channel-november-18-2013/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbp-usd-descending-channel-november-18-2013/", "headline": "GBP/USD Descending Channel (November 18, 2013)", "inLanguage": "en", "datePublished": "2013-11-18T11:06:34+00:00", "dateModified": "2013-11-18T11:06:34+00:00", "articleSection": "Market Info", "description": "Explore GBP/USD Descending Channel (November 18, 2013). 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