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Dollars To Pounds - GBP/USD Daily Candle Chart 2nd July 2009 (0)

Published on Thu, 2/07/09 | Pounds To Dollars Daily Chart
Pounds To Dollars - Daily Chart 2nd July 2009

Pounds To Dollars - Daily Chart 2nd July 2009

Yesterday’s candle on the daily chart for the pounds to dollars pair failed to provide any clear signal to the likely future direction for the pair, ending the day as a small doji balanced neatly on the 9 and 14 day moving averages.  The only significant analysis would be that this failed to provide any confirmation or otherwise of the bearish  signal of Tuesday which came about as a result of the horrific GDP data released in the UK.  Today, of course, the short term direction of the US Dollar will largely be dictated by a combination of the Non Farm Payroll figures, which if they follow the pattern of yesterday’s ADP figures, may well provide a shock to the market, and the ECB rate decision and statement.  These two factors will provide a powerful cocktail of volatility which will make any trading virtually impossible and a total lottery.  In the short to medium term today may well set the tone and trend moving forward and could well provide the trigger needed to break the current slough of sideways trading.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

Dollars To Pounds - GBP vs USD Daily Analysis 1st July 2009 (0)

Published on Wed, 1/07/09 | Pounds To Dollars Daily Chart
Dollars To Pounds - GBP vs USD Daily Analysis 1st July 2009

Yesterday’s candle on the pounds to dollars daily chart did indeed close the session with a heavily bearish flavour as evidenced by the deep upper shadow and small lower body, a classic shooting star signal and once that we need to consider carefully as a possible early warning.  The price action in creating the candle [...]


Pounds To Dollars - GBP vs USD Daily Chart 30th June 2009 (0)

Published on Tue, 30/06/09 | Pounds To Dollars Daily Chart
Pounds To Dollars - GBP vs USD Daily Chart 30th June 2009

Yesterday’s doji candle on the pounds to dollars chart continued to reinforce the triangle pattern which is now extremely well defined and converging in an ever tighter point towards the 1.65/1.66 price region with the 9 and 14 day moving averages now superimposed.   This picture has been dented somewhat by this morning’s price action where [...]


Pounds To Dollars - GBP/USD Daily Candle Chart 29th June 2009 (0)

Published on Mon, 29/06/09 | Pounds To Dollars Daily Chart
Pounds To Dollars - GBP/USD Daily Candle Chart 29th June 2009

Friday’s candle once again confirmed the sideways consolidation of the last few weeks with the daily chart now forming into a strong triangle, of which Friday’s high further reinforced the upper perimeter.  The low of the day once again found support from the bunched 9 and 14 day moving averages reinforcing my view that when [...]


Dollars to Pounds - Daily FX Chart GBP/USD 27th June 2009 (0)

Published on Fri, 26/06/09 | Pounds To Dollars Daily Chart
Dollars to Pounds - Daily FX Chart GBP/USD 27th June 2009

Yesterday’s candle on the pounds to dollars pair added further weight to the consensus view, that any breakout from the current pennant formation, when it comes, will be to be to the upside.  The reason for this analysis is simply that in the last 10 days of sideways trading five of the candles have deep [...]


Dollars To Pounds - GBP/USD Daily Chart 25th June 2009 (0)

Published on Thu, 25/06/09 | Pounds To Dollars Daily Chart
Dollars To Pounds - GBP/USD Daily Chart 25th June 2009

Yesterday’s candle on the pounds to dollars daily chart has provided us with several interesting points to consider from a technical perspective as the pair continue to consolidate into a pennant formation.  The first, and perhaps most obvious point, is that yesterday’s candle ended as a doji shooting star, a classic sign of weakness and [...]


Dollars To Pounds - GBP/USD Currency Rate Daily Chart 24th June 2009 (0)

Published on Wed, 24/06/09 | Pounds To Dollars Daily Chart
Dollars To Pounds - GBP/USD Currency Rate Daily Chart 24th June 2009

The pounds to dollars pair continues to consolidate sideways in the 1.625 to 1.666 region, moving towards an ever smaller trading range as we approach the point of the pennant pattern which is now emerging on the daily chart.  Yesterday’s candle provided further evidence that when the breakout occurs this may well be to the [...]


Dollars To Pounds - GBP/USD Daily Currency Chart 23rd June 2009 (0)

Published on Tue, 23/06/09 | Pounds To Dollars Daily Chart
Dollars To Pounds - GBP/USD Daily Currency Chart 23rd June 2009

Dollar
Today the currency market can best be described as combination of  mirage, mischief and mayhem in equal measure and a circus to boot with the two ringmasters of the ECB and the Federal Reserve currently cracking the whip.  Any attempt to trade on logic, either fundamental or technical is doomed to failure as central banks [...]


Dollars To Pounds - GBP/USD Daily Chart 22nd June 2009 (0)

Published on Mon, 22/06/09 | Pounds To Dollars Daily Chart
Dollars To Pounds - GBP/USD Daily Chart 22nd June 2009

Cable ended last week on a fifth day of consecutive sideways movement opening the trading session marginally below the 9 day moving average and closing above, but once again failing to breach the technically important 1.66 price region.  Interestingly prices once again found support from the 9 day moving average maintaining what appears to be [...]


Pounds To Dollars - GBP/USD Daily Currency Chart 19th June 2009 (0)

Published on Fri, 19/06/09 | Pounds To Dollars Daily Chart
Pounds To Dollars - GBP/USD Daily Currency Chart 19th June 2009

An interesting week for the pounds to dollars pair on the daily chart with yesterday’s candle once again suggesting that the British Pound still remains in the ascendancy against the US Dollar for several reasons.  Firstly the low of the day closed on the 9 day moving average which once again seemed to be providing [...]


Dollars To Pounds - GBP/USD Daily Chart 18th June 2009 (0)

Published on Thu, 18/06/09 | Pounds To Dollars Daily Chart
Dollars To Pounds - GBP/USD Daily Chart 18th June 2009

The pounds to dollars pair continues to consolidate sideways in a tight trading range with both the 9 and 14 day moving averages now virtually indistinguishable from one another.  Yesterday’s erratic price action was symptomatic with both the British Pound and US Dollar subject to the vagaries of the ebb and flow of fundamental news [...]


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Pounds To Dollars - Weekly Candle Chart GBP/USD 8th June 2009

As promised in Friday’s market analysis of the daily chart, I thought we would look at the weekly chart for the dollars to pounds pair, as this may provide a clue to the future direction for the pair in the medium term. As we can see, and certainly helped by the NFP data on Friday [...]

Pounds To Dollars Weekly Chart - 16th March 2009

Little to add to last week’s candle chart for the pounds to dollars currency pair.  Last week’s candle provided a small hammer which finished well below all three moving averages but provides little in the way of direction for this week’s trading and only confirms that British Pound bears failed to break the 1.3500 level.
Although [...]

Pound Dollar Weekly Candle Chart - 9th March 2009

Last weeks candle provided little in the way of direction for this week, and the sideways movement continued albeit with a bearish bias, and until we see a breakout from the current trading range, in my view this pair is impossible to trade with any degree of confidence. Whilst the general sideways trend is bearish, [...]

Pounds To Dollars - 2nd March 2009

A glance at the weekly candle chart for the pounds to dollars currency pair is enough to confirm what we already know from the daily charts, in that the pair are consolidating sideways, with a skew to the downside, a view reinforced this morning with the gap down in early trading. The doji candle of [...]

GBP USD Weekly Update 23rd February 2009

Unfortunately the weekly candle chart tells us very little, either in the way of a new signal, or confirming anything that has gone before, ending the week with a narrow spread spinning top doji. In the last 14 weeks we have seen two bearish engulfing signals and one bullish engulfing, so on the balance of [...]

Pounds To Dollars - Weekly Candle Chart 16th February 2009

Following last weeks candle we now have a clear bearish engulfing trading signal for this week, with the wide spread down bar wrapping around the up bar of the week before. This is the second such signal in the last 2 months, which will tend to suggest we should expect to see lower prices this [...]

Pounds To Dollars - Weekly Candle Chart 9th February 2009

Last weeks candle saw an up bar to add to that of the previous week, which reached but failed to penetrate the key resistance level at 1.4800, although both the 9 week and 14 week averages were crossed. This is a very tough decision at the moment, and much will depend on the early part [...]

Pounds To Dollars - Weekly Chart 2nd February 2009

Last week saw a wide spread up bar on the pounds to dollars chart, which reversed the losses of the previous week, but provided little in the way of information for us as traders. The closing price on Friday failed to penetrate the 9 week moving average, and therefore based on the weekly analysis, the [...]

Pounds To Dollars Trading News

Canadian dollar closed at 86.04 cents US, up 0.06 of a cent (Canadian Business)
2 Jul 2009 at 10:57pm
TORONTO - The Canadian dollar closed at 86.04 cents US, up 0.06 of a cent on Thursday. The U.S. dollar stood at 116.2... (show more)
Dollar pushes higher as job losses spook investors - Forbes
2 Jul 2009 at 9:38pm

AFP

Dollar pushes higher as job losses spook investors
Forbes
In late New York trading Thursday, the 16-nation euro slid... (show more)
Canadian dollar is trading at 86.21 cents US, up 0.23 cent at 11 a.m. ET (Can...
2 Jul 2009 at 5:13pm
TORONTO - The Canadian dollar traded at 86.21 cents US, up 0.23 of a cent on Thursday. The U.S. dollar was trading at... (show more)
WORLD FOREX: Yen Up On Risk Aversion After US Jobs Data - Wall Street Journal
2 Jul 2009 at 2:24pm

WORLD FOREX: Yen Up On Risk Aversion After US Jobs Data
Wall Street Journal
The dollar was at Y96.20 from Y96.67, accor... (show more)
Gold falls on stronger dollar, jobs data - MarketWatch
2 Jul 2009 at 2:19pm

Thanh Nien Daily

Gold falls on stronger dollar, jobs data
MarketWatch
By Moming Zhou, marketwatch NEW YORK (marketwatch)... (show more)
Canadian dollar opens at 86.71 cents US, up 0.73 of a cent (Canadian Business)
2 Jul 2009 at 1:58pm
TORONTO - The Canadian dollar opened at 86.71 cents US this morning, up 0.73 of a cent. The U.S. dollar stood at 115.... (show more)
Canadian dollar opens at 86.71 cents US, up 0.73 of a cent (Canoe Money)
2 Jul 2009 at 1:38pm
TORONTO - The Canadian dollar opened at 86.71 cents US this morning, up 0.73 of a cent. The U.S. dollar stood at 115.... (show more)
US Dollar Extends Uptrend; Hits 1-week High Against Pound - RTT News
2 Jul 2009 at 11:34am

Boston Globe

US Dollar Extends Uptrend; Hits 1-week High Against Pound
RTT News
The pound-dollar pair is currently tradi... (show more)
Currency Markets - Morning Trading Report 2nd July 2009
2 Jul 2009 at 9:22am
Currency Markets - Yesterday & Overnight The dollar made slight gains against the euro and was steady against the yen... (show more)
US Dollar, Pound, Euro and Yen down; Yuan flat (New Kerala)
2 Jul 2009 at 8:34am
Mumbai, Jul 2 : Following were the indicative currency notes and traveller's cheques buying and selling rates per uni... (show more)