GBPUSD Long trade developing
The second USD cross appears to be turning, I remain short USDCAD and am now considering entering long here. RSI is positive, the MACD signal line has tuned and is approaching the signal line. The candle chart shows the pair approaching substantial resistance and I will wait for this to clear before entering long. Of course we work from the assumption that the resistance line will hold and the trend return to a bearish one. Fundamentals her are difficult, the GBP economy continues to fire on all cylinders but I am leery of committing to the Pound before the election, I made great money selling the GBP 4 years ago around election time. Might have to wait for that event risk to pass.
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