The GBP/USD and GBP/JPY are two pairs that have been on my radar for some time as they have each slowly sunk towards their respective 200DMA (200 daily simple moving average). This key technical level has been a large part of my daily scan because without a dominant trend in the market to reveal market sentiment, secondary levels need to be used and the next best level to see on which side of the 200DMA a pair is trading. Typically I will favor pairs that are trending on their daily time frames. I look for “two to four” or “four to six o’clock” angle on my 34EMA Wave – which is the 34 period EMA on the high, the ... (full story)