Gbp/Usd Technical Analysis for 24th November 2008
The daily chart is showing that the pair does not have a distinct direction, as the chart appears to be quite horizontal for the past 10 days. The Bollinger Bands are widened, and the 4-hour Slow Stochastic also provides no clear indication. On the hourlies, the pair has been range trading with high volatility for a while now. Waiting for a clearer sign before entering the market might be the smart move today.
I would like to introduce myself. My name is Jim Johnson, and it seems like I have been involved in the wonderful world called currency trading since the earth cooled, even though it was only deregulated in 1997. I can't tell you the number of mountains I've climbed, the number of tribes I've befriended, and the years of trading experience and research that have gone into developing the right approach in trading the Forex. This is the reason I created this blog. Enjoy your stay on the site!