Browsing: GBP/USD

Nothing works like Elliott Wave analysis when it works!  The Pound has dropped 200 pips already. While we could expect…

All I can say just now is we got a nice 250 pip rally from the 1.6395 level, and that…

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 this blog), the currency has been moving sideways. Today, it looks a bit better bid

Today’s headlines read the Bank of England were considering whether BPthey should cut the base rates by more than two points on November 6, but settled for a 1.5% cut so that they would have room to cut later on, and bolster confidence. Why is the Pound gaining ground (even if only limited ground) when faced with the prospect of further rate cuts?

I warned you folks about this chop. 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.

The Forex markets have been known to be very liquid. But today the liquidity was at its lows. Spread on GBP/USD was 15 pips wide for a mere 10 million quote even when London was in full swing. I imagine this must have been the case even yesterday in NY time because the currency just tore straight up

I have been looking for Sterling to find support around 1.5850 because that area marked was respected several times in the past 20 years. But today was a different story. Incredible as it seems, we were at 1.75 just 4 days back, and today’s low was 1.5260. That is a cool 22 BIG FIGURES down