Olu

GbpUsd: Decision Point

FX:GBPUSD   British Pound / U.S. Dollar
Comments on the chart. I am leaning towards the long side but neutral now
Comment: Price has broken above the trendline but the move is not impulsive so I am still tentative about price. However my thoughts about the upside breakout did materialise
Comment: Price fell today increasing the possibility that the break above the downtrend line was a false breakout. The second scenario is that it is still just a retest of the downtrend line. More price action is needed to clarify
Comment: Price put in a doji i.e there is no momentum to go either way. As in the previous update more price action is needed. Taking out 1.4000 though will get me long
Trade active: Went long as described in my last update
Comment: Price went up as far as 1.4087 but fell back to where we are now at 1.4024. Still looking upwards
Comment: Price fell back today and is right back at the blast off point at 1.4000. Will this area hold?
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