GBP/USD psar bull signal

In Forex, Cable is showing simultaneous psar, pps and macd bull signals.

The adx at 37, a level that, according to doctrine, means a lesser chance of whipsaws.

However, the adx rose during GBP/USD's decline from mid-January to early March, and is tipping down a bit. So I think the high adx is more of a timelag artifact than anything to do with a retracement of that decline.


The sto has moved into overbought territory.

At $1.5174, the currency pair is trading about at resistance set for eight days aftr the decline ended.

GBP/USD traded at a high of 1.6457 on Jan. 19, and fell 10.2% to 1.4782 on March 1.

As is often the case with currencies, it's a congested chart.

You are here:

• Resistance
• $1.6457, +8.5%
• $1.6267, +7.2%
• $1.5994, +5.4%
• $1.5794, +4.1%
• $1.5747, +3.8%
• $1.5520, +0.3%
• Now 1.5174
• $1.4871, -2%
• $1.4782, -2.6%

 Abbreviations:

psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic