by Ramki | Sep 29, 2009 | GBP
We got the dip to 1.5768 and a strong rally that has reached 1.5980 at the time of writing. I think there is a chance for some selling at 1.6003, but the bigger resistance lies at 1.6079. From one of these two places, look for a sizeable move lower.
by Ramki | Aug 13, 2009 | GBP
All I can say just now is we got a nice 250 pip rally from the 1.6395 level, and that more than makes up for some of the opportunity lost on the way down. Also observe how nicely the Pound was pushed back by over 50 pips from the 61.8% retracement level on the...
by Ramki | Nov 24, 2008 | GBP
Whenever a currency or commodity or stock moves rapidly and too far, it sets itself up for a period of consolidation. As you are aware, Sterling has dropped like a stone from its peak, and after reaching its medium-term target of around 1.4570 (discussed earlier in...
by Ramki | Nov 14, 2008 | GBP
Just a quick post to record the fact that the Sterling Pound has met its larger objective near 1.4570 last night and bounced sharply. (refer this post that says stay short in sterling for now). It has been a very tough week for most traders and most are licking their...
by Ramki | Nov 6, 2008 | GBP
I warned you folks about this chop in Sterling Pound . In just 40 minutes, Sterling had dipped from 1.5830 to 1.5720 and raced higher to 1.6020. What should one do in such a market? The most sensible thing to do is to go out for a snack. Why get involved in the middle...
