GBPUSD: Long Term Sideways Range to Hold?
Price has been in a sideways ranging market since May-2011, where the 52-Week BB has been a good envelope for price action, good short and long signals on stochastic crossover near upper and lower bands, the middle Band has been a good resistance/support level as well.
Stochastic oscillator is best used in sideways market; most overbought/oversold crossover signals have been effective in indicating turnarounds.
Having said that, ill assume the sideways bias shall continue, unless we see a decisive break above 1.6300.
twitter.com/thefxchannel
thefxchannel.com
Stochastic oscillator is best used in sideways market; most overbought/oversold crossover signals have been effective in indicating turnarounds.
Having said that, ill assume the sideways bias shall continue, unless we see a decisive break above 1.6300.
twitter.com/thefxchannel
thefxchannel.com