Archive for gbpusd
Charting the GBPUSD: Head and Shoulders Update
The weak UK GDP number caused the GBP/USD to sell off aggressively today, breaking the uptrend in the currency pair. Earlier this week, I posted a chart about a head and shoulders formation that could be forming in the GBP/USD. At the time, I said that it was a bit premature but after [...]
Head and Shoulders in GBPUSD?
After rallying for 9 straight trading days, the GBP/USD has finally pulled back. In my Charting the GBP/USD post yesterday, I showed a chart illustrating the extremeness of the move in the currency and talked about how it was prime for a correction. Typically when moves become this overextended, a correction of AT [...]
British Pound Falling - WSJ Cites Upcoming Election
The WSJ and the Financial Times are crediting the drop in the British pound to the upcoming election. Worth a read though I still think that its more than just politics because politics have been in the background for the past few months. If you haven’t read it yet, read my piece on 5 [...]
British Pound: Will it Break the Range?
For the past four trading days, the British pound has been stuck in a 200 pip range against the U.S. dollar and a 115 pip range against the Euro. However the bottom of the range in both the GBP/USD and EUR/USD have been broken, leading currency traders to wonder if the larger range will be [...]
