The Pound Dollar.

Good afternoon Dynamic Traders,

I am going to do a quick post now as I have got the webinar later.

This is not a mechanical trade but rather a discretionary one and is of the GBP.

As can be seen from the image below price action has hit a breather level of the movement up from March to August a few days ago, but Get Stochastics as yet is not showing a false bar to the upside although it is in OB territoty.

The recent webinars could soon come into play here so put this pair on your watchlist although more confluences have to occur.

It is currently in 'no mans land' from a swing trade point of view which really should be a break of the consolidation high or low, but can be traded intraday.

From this chart the best way would obviously be with the trend and therefore look for the continuation should the entry become available which could well be after a pullback to the former R/S level with V.I. area.

As always please ensure to do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good Luck.

Clayton Farnworth.