Autochartist Forecast
Waiting for a Pullback on the GBP/USD
The GBP/USD has been trading higher throughout the European, UK, and US sessions. This uptrend has many traders waiting for an opportunity to buy into the strength (which typically means waiting for a breakout through the resistance line (R), or a correction). The correction offers more chance of a better price, as well as lower risk since the entry requires a correction of the trend.
The trend on the 30 minute chart is up. However, as indicated by the Initial Trend Reading (T), it is no longer strong.
Source : yvette@autochartist.com (Yvette le Roux)
22 October | 
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