Technician
Short

GBPUSD: Long Term Sideways Range to Hold?

FX:GBPUSD   British Pound/U.S. Dollar
1170 1 9
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.


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Nice findings of the price action setups.Double bottom, double top..great.
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