The cable appears to have completed a medium term bottoming pattern (H&S or rounded depending on your view). MACD has turned higher and RSI is not yet oversold, ROC is gaining upward momentum. The pair has also issued a buy signal on the 3 box Point and Figure chart with a measured target of 1441 pips and stop loss of 555 pips. I will enter long at market open on Monday morning using those values.
I am a longer term trader and this trade should be expected to last 3 - 6 months if successful
I am a longer term trader and this trade should be expected to last 3 - 6 months if successful