Friday, 3 August 2012

GBP/USD testing three and a half year old trend line

It must be a year or so since I last posted about GBP/USD. The time is right for another post, with the pair testing a three and a half year old trend line. The action since the early 2009 low has been a sideways correction of the preceding down trend. A break lower would be a bearish edge. See, I don't always deal in hyperbole, sometimes I deal in understatement.