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snipersfx

GBP INDEX , on the long term , weekly chart

Long
British Pound Currency Index (TVC:BXY)  
snipersfx  
TVC:BXY   British Pound Currency Index
Trend Analysis Support and Resistance Technical Indicators rsi_divergence rsi_oversold Divergence Fibonacci Retracement
2
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trendanalysis supportandresistance indicator rsi_divergence rsi_oversold divergence fibonacciretracement
as we are purely technical , we only look at what the chart tell us . and in this case we can see that there is a divergence on the weekly chart with the price sitting on a major support area, with rsi oversold.
reasons to look for ling on the pound ( position trading as this analysis is based on the weekly chart)
1- divergence
2- strong support
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