Browsing: Sterling

The Sterling Yen cross has been a big mover in recent weeks, because not only the Pound got thrashed, but the Yen also strengthened simultaneously. Naturally, traders hop on board any trend that is clear! Here is you chart on Sterling Yen (GBP/JPY) with Elliot wave counts and comments

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

This is a brief update. I acknowledge it is silly to project the pattern that the market will trace. If I were to do some wishful thinking, then it will be an ending diagonal triangle like what is shown on the chart

The sharp sell-off in GBP/USD this morning was on the back of comments from Bank of England Governor Mr. Mervyn…