Tag Archives: British Pound

On 5th October 2009, I posted an early warning to traders of Sterling Pound (GBP/USD)that there is something fishy about the decline from 1.6742, and we are likely to see another rally in the Pound. Trouble is, it is so … Continue reading →

This is going to be a quick update. The chart explains it all. If we come below 1.5775, we shoudl come off to 1.5685 initially and perhaps a lot lower. Here is an update on the charts above

Fans of Eliott Wave analysis know that a trader has to be alert to correctly interpret new signals as they emerge. This is the ONLY way one has a chance to make money in any market, particularly in the forex … Continue reading →

Nothing works like Elliott Wave analysis when it works!  The Pound has dropped 200 pips already. While we could expect more weakness ahead, I would like to be prepared with a plan of action should we see a strong correction … Continue reading →

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 … Continue reading →

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 … Continue reading →