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Forex Pounds to Dollars 24 March 2010

The UK Chancellor duly delivered his final budget before the general election which was greeted by the currency market with a degree of scepticism as the pounds to dollar pair fell sharply during today’s trading session.  It was particularly interesting to note that a minor...

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Forex Pounds to Dollars 23 March 2010

Yesterday’s attempt to rally by cable was promptly capped by the 14 day moving average with the pair only moving marginally higher during the day and closing as a narrow spread up candle just above the psychological USD1.50 price handle.  The longer term outlook for...

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Forex Pounds to Dollars 19 March 2010

The recent short squeeze on the pounds vs USD pair now seems to be over with Wednesday’s candle topping out at USD1.54 and falling well short of the 40 day moving average as a result, and much in line with our forecast of last week. ...

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Forecast Pound to Dollar 16 March 2010

Friday’s rally by cable which broke above both the 9 and 14 day moving averages was promptly snuffed out yesterday with a wide spread down bar which reversed all of Friday’s gains, closing below all four moving averages once again. The selling pressure on the...

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Pounds to USD 11 March 2010

The British Pound remains firmly bearish but as with other forex pairs at present has entered a consolidating phase in the USD1.5000 price region.  Yesterday’s candle ended marginally lower but with a relatively deep shadow to the lower body suggesting a degree of bullish sentiment in the short...

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Forex Pounds to Dollars 4 March 2010

Following Monday’s sharp sell off cable has managed to recover some of the lost ground and is now attempting to crawl back towards the USD1.51 price handle and above.  Technically the outlook for the pounds vs usd pair remains heavily bearish with the daily price...

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Forex Pounds to Dollars 1 March 2010

The bearish sentiment towards sterling continued last week with the pounds to dollars pair ending with a narrow spread down bar which once again closed below all four moving averages propelling cable towards our short term target of USD1.50 with a much deeper move now...

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Forex Pounds to Dollars 25 Feb 2010

The pounds to usd chart remains firmly bearish with both the 9 and 14 day moving averages providing strong resistance to any upwards move. Sterling was helped lower following BOE Gov King’s comments earlier in the week which clearly indicated the true picture of the economic...

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Forex Pounds to Dollars 19 Feb 2010

The unexpected decision by the FED to raise its discount rate produced some fireworks in the pounds to usd pair which ended yesterday’s trading session dramatically lower as it accelerated through our initial target of USD1.55 to finish close to USD1.54.  Not only was sterling...

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Forex Pounds to Dollars 8 Feb 2010

A defining week for the pounds to usd which ended on Friday with a wide spread down bar on the weekly chart as dollar strength continued to dominate the major currency pairs.  Moving to the daily chart the key event occured on Thursday with the...

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