This is a swing trade setup. Cable is moving closer to retest previous broken trend line, and a bullish harmonic pattern is forming. It depends on one’s risk tolerance, I prefer to build entry near trend line. Still watching for now. I expect some reactions at the trend line retest.
Here is the … CHART!
![GBPUSD_07 September 2011 BB](https://tradergav.com/wp-content/Photos/2011/09/GBPUSD_07-September-2011-BB-1024x502.png)
Pound seems to be consolidating and preparing for the next move, possible usd strengthening across the board, see eurusd