GBPUSD Keeping it Simple
May 18th, 2009
When it comes to trading, simplicity is the key. On this GBPUSD chart we can see from the trend lines in blue below the market that both the intermediate and long-term trends are higher. Trend lines are great not just for support or resistance but for reminding us of the overall trends. By keeping our short-term trend lines updated and identifying a trend shift in-line with the overall trend, we get a nice buy signal in the Tokyo session as this pair rallies sharply to test the high of the move at approx. 153.50.
Jay Norris
