The Cable Tightening.

Good morning Dynamic Traders,

One to keep a close eye on again is the GBPUSD on the daily timeframe.

Price action is again approaching the physcological level and figure of 1.5000 where it has seen resistance in the recent past.

The sub chart indicator is showing divergence implying a possible reversal may be coming and so it may well move into a position for a possible trade.

The long term trendline has been broken which you can apply yourselves and this could now offer support should a fall evolve.
I am awaiting the outcome of the squeeze first ( which could run till the end of April at its extreme ), before entering any trade and shall have the consolidation zone in mind whilst thinking of any trade.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.