A trendline quandry for GBPUSD

We’ve been discussing trendlines in our trading room today and with GBPUSD taking another leg lower, maybe it’s time to put the question out to a wider audience.

I like my tech nice and clean and as least confusing as possible but the picture in cable regarding trendlines is one of those difficult situations where there’s lots of options. Most in the room agree that when faced with such dilemmas, looking for confluences with other indicators, on the same or different time frames, can help you sort the wheat from the chaff.

Here’s the weekly cable chart. Tell us what you see and how you would play it?

GBPUSD weekly chart

GBPUSD weekly chart

Let us know in the comments below.

Ryan Littlestone

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