Category Archives: GBP

Sterling whips around.

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 Continue reading

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Sterling chops my neck

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 Continue reading

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Still think we should buy STG around 1.5850

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 Continue reading

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Next dip in Sterling is a buy!

The sharp sell-off in GBP/USD this morning was on the back of comments from Bank of England Governor Mr. Mervyn King that the UK was probably entering recession for the first time in 16 years. The high for Sterling yesterday … Continue reading

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Sterling has more room on downside

The beating that the Royal Bank of Scotland took today is not the sole reason for Sterling’s sharp downmove. The market is really nervous about which other big institution is sitting there with a load of worthless assets. ( As … Continue reading

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Sterling has more room on downside

The beating that the Royal Bank of Scotland took today is not the sole reason for Sterling’s sharp downmove. Continue reading

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