The British Pound.

Good evening Forex Traders,

Tonights chart is of the GBP which has the longer,medium and short term trends all up at present but is currently in a consolidation phase.

Keep this on your watchlist as a possible upmove could be on the way shortly but as at the time of writing I do not have my full quota of confluences but they do seem to be adding up.

MACD is down at the moment but is starting to hook up, whilst GetStochastics is pointing up with false bars on the upside and RSI is above fifty.

However should the move north occur remember recent resistance of early August around the figure area.

Trading conservatively would wait for the consolidation break either way.

High impact news is out tomorrow and as you should all know NFP is on Friday.

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

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.