The GBP/USD Seasonal Tendencies are Playing Out

From dailyforextradingedge.com

The pound sterling’s seasonals are particularly interesting right now. I would not override trend analysis with seasonals however; the current correction of the downtrend is in line with the historic rhythm of price movement. Take the GBP/USD’s current correction into consideration: It has only now made a 38.2% Fibonacci retracement of the recent sell-off from the February 8 high. This correction has also reached the 34 period EMA low which is the lowest level of the 34EMA Wave. Past performance is not indicative of future results The GBP/USD has triggered a conservative swing buy as the pair has climbed to the ... (full story)