Let's talk a moment about GBPUSD. We want to see how we are going to trade this for the long term before we really get into the trades.
Looking at the chart we notice that this pair is in a long term uptrend. It starts at the beginning of March this year and has been climbing up since. It has moved over 3000 point and it will continue to move. We expect to capture another 1000 to 2000 points on this pair.
A few weeks ago, it moves down about 800 pips.
Now it is getting pack online again.
Now, we need to know the right timing to get back in and ride it up.
This is what must be done on every currency pairs before trading it.
Base on the above information I gave you, you almost have enough information to start trading.
Weekly chart is giving up the long-term trend and it is up.
The Daily chart has start so align itself with the Weekly.
4 Hour is already up and is separated base on our indicator.
As far as the long term goes anyone can get into it now by placing a pending BUY trade at 1.6418
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