Having just updated the euro vs dollar daily chart, the same advice applies here to the GBP/USD currency pair, and that is simply to stay out, until we see the current consolidation come to an end. There are ways to trade these markets, but as retail traders, using the simply buy and sell order strategy [...]
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GBP/USD Daily Chart – February 27th 2009 (0)
Pounds To Dollars – 25th February 2009 (0)
The GBP/USD currency pair is becoming impossible to trade at the moment, along with the euro dollar and several other majors. All are behaving in a completely random way, and increasingly professional traders that I am in contact with daily, are waiting on the sidelines for the current random price action to settle, before re-entering [...]
Cable Continues To Consolidate Into A Pennant – 24th February 2009 (0)
The headline says it all really, with the pounds to dollars currency pair continuing its sideways consolidation of the last few weeks, forming a strong pennant pattern. Until we see a breakout from this pattern, then the pair are very difficult to trade at the moment, and the only strategy I would suggest is using [...]
Pound Dollars Daily Forecast 23rd February 2009 (0)
On the daily chart, Friday’s candle was a wide spread up bar, crossing the 9 day moving average but failing to hold above the 14 day average, but in early trading this morning the upwards price move has continued, crossing both the 9 day and 14 day moving averages. As you can see from the [...]
GBP USD Weekly Update 23rd February 2009 (0)
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 [...]
Pound Dollar ( GBP/USD) – February 19th 2009 (0)
The doji cross candle from yesterday provided little in the way of a signal, other than telling us that the market in cable is undecided at the moment. Four of the last five candles have touched the same point in the daily chart, just above 1.4100, suggesting that this is forming a resistance to lower [...]
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Glad of your morale boost re Cable for today! As a relatively new trader who is...
Said Jan on 2009-07-13 18:53:05Nice chart and perspective. I had the same view when I saw the Point and Figure ...
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3 comments since 2009-03-01 13:09:39Are We Heading For A Sterling Crisis ?
1 comments since 2009-01-25 12:49:32Pounds To Dollars - Dollars To Pounds Monthly Chart 1st June 2009
1 comments since 2009-06-01 17:55:02Pounds To Dollars - GBP/USD Daily Candle Chart 13th July 2009
1 comments since 2009-07-13 13:33:11Dollars To Pounds - GBP/USD Currency Rate Daily Chart 24th June 2009
1 comments since 2009-06-24 12:31:18Pounds to Dollars Forex Forecast 19 July 2010
An interesting week for the pounds to dollars pair which ended the forex trading session on the weekly chart as a narrow spread up candle but with deep wicks to the top and bottom. The high of the week ran into resistance from the 40 week moving average whilst the low of the week found [...]
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. [...]
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 News
WORLD FOREX: UK Pound Hits 5-Month High In Unsettled Trading - Wall Street Jo...
30 Jul 2010 at 5:31pm
British Pound Spiked Up Further Against Majors - RTT News
30 Jul 2010 at 4:39pm
FTSE ends lower on US growth data
30 Jul 2010 at 4:38pm
Sterling hits 5-month high vs dollar - Reuters UK
30 Jul 2010 at 4:09pm
Dollar sinks to 8-month low vs yen as growth slows - The Associated Press
30 Jul 2010 at 3:49pm
What Are Forex Month End Fixings? - istockAnalyst.com (press release)
30 Jul 2010 at 3:35pm







