Category: British Pound
The analysis published under this category are as follows.
Friday, August 30, 2024
GBP/USD Uptrend: What’s Next for the Pair? / Currencies / British Pound
By: Submissions
The GBP/USD pair has continued its upward trajectory, climbing from 1.2664 to a recent high of 1.3246. This strong bullish momentum suggests that as long as the price remains within the rising channel on the 4-hour chart, the uptrend is likely to persist. The next targets for the pair are around the 1.3350 area, with potential to reach the 1.3500 level.
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Sunday, September 24, 2023
British Pound Trend Trajectory / Currencies / British Pound
By: Nadeem_Walayat
YES all currencies in free fall but for the time being at least the UK is showing relative strength against the dollar (dead cat bounce), it will eventually weaken once more to fresh lows. However as the above illustrates it is all smoke and mirrors, why I don't fuss too much over the fx rate that I buy US stocks at because at the end of the day CASH IS LOSING VALUE regardless of the currency it is denominated in! So it's a bit of a fools errand to wait for sterling to rise before buying US stocks as we have witnessed during the past 9 months.
Still to eek out that extra few percent it can be prove a useful short-term exercise to have a rough idea where sterling is going, one of the check boxes to tick off in our pursuit of maximising profits.
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Wednesday, November 09, 2022
GBPUSD 7 Charts to Help You Catch the Next Move / Currencies / British Pound
By: EWI
Hi,
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Now that the British pound has almost hit parity with the U.S. dollar, forex traders everywhere are wondering what's next.
Our friends at Elliott Wave International are hosting a live webinar to answer the question. Join EWI's Senior Currency Strategist, Michael Madden, on November 10th at 12 PM Eastern/NY time. He'll show you 7+ eye-opening charts that highlight where GBP has been -- going back all the way to the late 1700s! -- how it got to where it is today, and, most importantly, what Elliott waves suggest next for Cable.
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Monday, November 07, 2022
UK Economy and British Pound GBP Trend Forecast / Currencies / British Pound
By: Nadeem_Walayat
The big problem is this that as the Dollar rises investors SELL their domestic currency for dollar assets which is what all those outside of the US do when they invest in US stocks and other assets which drives down currencies such as sterling in a feedback loop, as a weaker currency tends to be accompanied by weaker economic fundamentals i.e. higher interest rates because there is less demand for domestic bonds and inflation rises because the cost of imports go up which feeds through to more selling of sterling for dollar assets in attempts to escape the falling currency which is where many outside of the US find themselves today, as my earlier example of the US stocks bear market in GBP illustrate. The consequences is that the US can bring inflation umder control whilst there's fat chance of the UK bringing inflation under control with a freefalling currency and given Britains perpetual trade deficit the odds of an significant sterling recovery is pretty slim.
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Thursday, October 14, 2021
Ailing UK Pound Has Global Effects / Currencies / British Pound
By: Justin_Weinger
Are you among the millions of financial news watchers who wonder what is going on with the British pound (GBP)? If so, you've probably already noticed that one of the big four currencies has been dropping in recent months. Not since the first few weeks after the Brexit deal took effect has the UK's denominated currency been hit so hard. Its most recent value in terms of US dollars (USD) was $1.357, but what's worrying most traders is the GBP's volatility, which also stands are recent highs. There's no question that the pound is taking a pounding, but two questions are uppermost in the minds of forex enthusiasts:
- How will FX markets react to this recent development?
- What kinds of opportunities does the pound's woes offer to foreign exchange traders?
Sunday, February 16, 2020
British Pound GBP Trend Forecast 2020 / Currencies / British Pound
By: Nadeem_Walayat
This is the final part of my British Pound Analysis that concludes in a detailed trend forecast for 2020
- British Pound 2019 Review (Part1)
- Political Implications
- Fundamentals
- US Dollar Index
- GBP Long-term analysis
- GBP Trend Analysis
- Elliott Wave Theory
- GBP 2020 Forecast Conclusion
However the whole of analysis was first made available to Patrons who support my work: British Pound GBP Trend Forecast 2020
So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.
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Thursday, February 13, 2020
British Pound GBP Trend and Elliott Wave Analysis / Currencies / British Pound
By: Nadeem_Walayat
This is part 4 of my British Pound Analysis that concludes in a detailed trend forecast for 2020
- British Pound 2019 Review (Part1)
- Political Implications
- Fundamentals
- US Dollar Index
- GBP Long-term analysis
- GBP Trend Analysis
- Elliott Wave Theory
- GBP 2020 Forecast Conclusion
However the whole of analysis was first made available to Patrons who support my work: British Pound GBP Trend Forecast 2020
So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.
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Friday, February 07, 2020
British Pound GBP Long-term Trend Analysis / Currencies / British Pound
By: Nadeem_Walayat
This is part 3 of my British Pound Analysis that concludes in a detailed trend forecast for 2020
- British Pound 2019 Review (Part1)
- Political Implications
- Fundamentals
- US Dollar Index
- GBP Long-term analysis
- GBP Trend Analysis
- Elliott Wave Theory
- GBP 2020 Forecast Conclusion
However the whole of analysis was first made available to Patrons who support my work: British Pound GBP Trend Forecast 2020
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Wednesday, February 05, 2020
British Pound Fundamental Analysis and US Dollar Trend Analysis / Currencies / British Pound
By: Nadeem_Walayat
This is part 2 of my British Pound Analysis that concludes in a detailed trend forecast for 2020
- British Pound 2019 Review (Part1)
- Political Implications
- Fundamentals
- US Dollar Index
- GBP Long-term analysis
- GBP Trend Analysis
- Elliott Wave Theory
- GBP 2020 Forecast Conclusion
However the whole of analysis was first made available to Patrons who support my work: British Pound GBP Trend Forecast 2020
So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.
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Monday, January 13, 2020
British Pound GBP Trend Forecast Review / Currencies / British Pound
By: Nadeem_Walayat
Get Brexit DONE just as Take Back Control before it won the day for the LEAVE camp (Tory party) after they finally managed to pry Remainer Theresa May's fingers from the doors of No 10, planting LEAVER Boris Johnson in her place.
Right from the outset Boris Johnson was perceived by all as being a tough sell to the public and just maybe the Corbyn socialist hard left brigade could pull off another surprise performance just as they had in 2017 that caught everyone by surprise.
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Monday, December 09, 2019
British Pound Struggling At New Resistance / Currencies / British Pound
By: Nadia_Simmons
For many weeks running, GBP/USD has been trading sideways in the pink consolidation. After moving higher recently, just what are the chances of the breakout sticking?
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Friday, October 18, 2019
British Pound Brexit Chaos GBP Trend Forecast / Currencies / British Pound
By: Nadeem_Walayat
The Pound fell sharply following the announcement that Parliament would be suspended so as to enable a hard Brexit. However subsequent chaos of the Governments loss of control of Parliament with Remainer's taking control of business of the house has seen a sharp bounce in sterling which is contrary to what one would expect given extreme chaos and uncertainty.
Taking a look at the British Pound since Theresa May took office July 2016 against key Brexit events paints a different picture of what is driving the British Pound where the Brexit factor is concerned.
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Monday, October 14, 2019
British Pound GBP Trend Analysis / Currencies / British Pound
By: Nadeem_Walayat
GBP Long-term Trend
What stands out from the long-term chart is that GBP has been in a downtrend for many years, a good 20 years in fact for I recall sterling trading at over £/$ 2.0 a few years earlier than this graph. So whilst the clueless mainstream press have been crowing since 23rd of June of how the Pound has collapsed following Brexit. What they fail to understand is that Pound would have fallen regardless of the results of the 23rd June 2016 referendum because it's in a bear market.
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Saturday, September 28, 2019
British Pound Fundamental Analysis / Currencies / British Pound
By: Nadeem_Walayat
Political Implications
An expected Tory general election win favours GBP strengthening as it delivers political certainty even if under BJ implies a hard Brexit outcome is more probable.
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Saturday, September 14, 2019
British Pound vs Brexit Chaos Timeline / Currencies / British Pound
By: Nadeem_Walayat
The consensus view is that the market seeks a resolution to Brexit uncertainty of when or even if the UK would leave the EU. Which given current extreme chaos would suggest that the British Pound should be an death spiral of sorts.
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Thursday, August 15, 2019
GBP vs USD Forex Pair Swings Into Focus Amid Brexit Chaos / Currencies / British Pound
By: Submissions
On July 16th Sterling hit its 2019 low of $1.24 against the US Dollar. It wasn’t the biggest surprise, as GBP has been bouncing around the $1.25-$1.26 mark for most of July, and, indeed, sits around that mark at the time of writing one week later.The drop in Sterling’s value prompted a bit of a reaction on social media, which soon snowballed into hysteria and misinformation. The latter came from a widely shared story on Twitter, which claimed that GBP had reached its lowest rate against USD since 1985. That was, in fact, incorrect, as the Pound was buying $1.22 in January 2017.
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Wednesday, July 10, 2019
July 2019 GBPUSD Market Update and Outlook / Currencies / British Pound
By: Justin_Weinger
...
Thursday, May 23, 2019
Elliott Wave Analysis of GBPUSD / Currencies / British Pound
By: WavePatternTraders
I suspect a relief bounce is close at hand for some of the GBP pairs, when we look at the decline from the May 2019 high, the new low on pairs such as GBPCHF and GBPCAD are supportive that the new low on GBPUSD is most likely the 5th wave of an impulse wave (5 wave decline) from 13176.A partial rally in 3 waves is favored soon, that can offer an opportunity for traders that are looking to sell GBPUSD, stops need to be placed at 13176. That is likely to align with a bounce on pairs like GBPCHF and GBPCAD etc.
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Wednesday, March 13, 2019
Is Britain At The Edge Of A Political Cliff? / Currencies / British Pound
By: Chris_Vermeulen
Recent news that Theresa May was unable to convince members of Parliament to even consider her current deal as well as the future political and societal consequences of any failure to move ahead with an orderly Brexit deal. The question before traders and investors is how will this reflect in the global markets and how will currencies react to this new?
The GBP (British Pound) appears to be poised to a breakdown move aligning with our Fibonacci Arc structures. These arc structures help us to understand where “inflection points” are likely in the markets and where bigger moves may initiate. The current Arc level, near current price, is indicating that any failure of an upside move will likely prompt a downside move to near 0.739 – or lower.
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Friday, December 28, 2018
GBP/USD - Has the Hope of the Bulls Gone? / Currencies / British Pound
By: Nadia_Simmons
Monday's session brought a breakout above the upper border of the consolidation and hope for higher values of GBP/USD. Unfortunately, none of these things lasted too long as the next days showed that the bears are not going to let their rivals through to the north without a fight. What are the implications of the recent price action?
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Thursday, November 29, 2018
GBP/USD – Double Bottom or Further Declines? / Currencies / British Pound
By: Nadia_Simmons
In the previous week, GBP/USD wavered around the lower border of the declining trend channel. Yesterday, currency bears pushed the pair below it, testing the mid-November low. Will we see a post-double-bottom rally in the following days?
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Sunday, October 21, 2018
Why Is the Weakness In GBP/USD Likely? / Currencies / British Pound
By: Nadia_Simmons
In recent days, the British pound declined quite sharply against the greenback, which caused several negative developments. Will currency bears be strong enough to trigger further deterioration in the coming week?
EUR/USD – Double Bottom or Further Declines?
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Monday, September 17, 2018
GBPUSD Set to Explode Higher / Currencies / British Pound
By: Austin_Galt
Pattern – we can see price bottomed out at 1.2662 and has subsequently made a pattern of higher highs and higher lows. The recent higher low formed a bullish double bottom, denoted by the horizontal line. Double bottoms which form just above the major low are generally an excellent indication of a new uptrend in play. I now expect price to do some backing and filling before launching higher again.Read full article... Read full article...
Wednesday, September 05, 2018
GBP/CAD Could Gain Traction / Currencies / British Pound
By: FXOpen
GBP/CAD is trading nicely and it may perhaps rise towards the 1.7000 resistance.
Key Points
- GBP/CAD found support near 1.6600 and started an upside move.
- There was a break above a key bearish trend line with resistance at 1.6790 on the daily chart.
Tuesday, September 04, 2018
GBP/USD Remains Bearish / Currencies / British Pound
By: FXOpen
The daily chart of GBP/USD suggests that the pair is in a major downtrend below 1.3000 and it could decline further.
Key Points
- The British Pound failed recently to break a crucial resistance near 1.3000/40 against the US Dollar.
- The GBP/USD pair is following a major bearish trend line with resistance at 1.2970 on the daily chart.
Friday, July 27, 2018
British Pound Likely to Extend Declines – The Big Picture / Currencies / British Pound
By: Submissions
FXOpen writes: The weekly chart of GBP/USD indicates that pair broke key support levels. On the other hand, EUR/GBP may perhaps move higher in the medium term.
Key Points
- The British Pound started a major downward move from the 1.4375 swing high against the US Dollar.
- GBP/USD broke a key bullish trend line with support at 1.3720 on the weekly chart.
- EUR/GBP formed a short-term top near the 0.9300 level and declined.
- The pair is following a declining channel with resistance near 0.8930 on the weekly chart.
Wednesday, July 04, 2018
GBP/USD – Time to Jump in with Both Feet? / Currencies / British Pound
By: Nadia_Simmons
On Friday, the British pound showed strength against the greenback, which resulted in an invalidation of the breakdown under the long-term support line. The closure of the week above this important line emphasized the advantage of currency bulls over their rivals. What a pity that they rested on their laurels.Why? Because yesterday’s session erased most of the earlier rebound. This bucket of cold water, however, awakened the buyers who returned to the game for higher levels. What must they do to make GBP/USD grow above 1.3000?
Wednesday, December 06, 2017
British Pound Sterling Volatility In Crucial Week of Brexit Talk / Currencies / British Pound
By: ElliottWave-Forecast
Sterling fell versus the dollar earlier this week as Brexit talk between the UK and EU falter at the last minute. British Prime Minister Theresa May is on the race to break the deadlock on the issue of Irish border. Irish border is one of the three key issues required to be settled before the U.K can move on to the next stage of Brexit talk. The next phase of talk involves trade negotiation at the crucial EU summit on December 14.
Wednesday, November 29, 2017
GBPJPY Failed To Break Below 146.93 Support / Currencies / British Pound
By: Franco_Shao
GBPJPY failed in its attempt to break below 146.93 support, and stayed in a trading range between 146.93 and 152.85. As long as 146.93 support holds, the price action in the range could be treated as consolidation of the uptrend from 135.59 and another rise could be expected after the consolidation.
Tuesday, November 21, 2017
GBPJPY Moved Sideways Between 146.93 and 152.85 / Currencies / British Pound
By: Franco_Shao
GBPJPY moved sideways in a trading range between 146.93 and 152.85 for several weeks. Support is at 146.93, as long as this level holds, the sideways movement in the range could be treated as consolidation of the uptrend from 139.30 and another rise towards 164.00 is possible after the consolidation.
Monday, November 20, 2017
Forex Markets: British Pound Faces Strong Resistance Ahead / Currencies / British Pound
By: Richard_Cox
Currency markets have emerged from the summer period and we are now looking at the development of several new trends in many of the majors. Judging the likely expectations in the British Pound is an action that will continue to remain important, given the effect it should have on broad asset benchmarks like the FTSE 100.
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Tuesday, November 14, 2017
GBP/USD Faces Resistance at 1.3850 / Currencies / British Pound
By: Submissions
The GBP/USD continues to press forward with its long-term downtrend but there are still opportunities for bullish currency investors that are looking to capitalize on opportunities at lower levels. After seeing some critical changes in the need for higher interest rates, the Bank of England has quickly started to alter its stance and this is leading to a turnaround in the GBP off of its prior lows.
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Friday, November 03, 2017
GBP/USD – Currency Bulls vs. mid-October Highs / Currencies / British Pound
By: Nadia_Simmons
Although GBP/USD increased a bit recently, the resistance area created by the mid-October highs continues to keep gains in check. What’s next for the exchange rate?
Tuesday, October 31, 2017
British Pound Could See Declines / Currencies / British Pound
By: Richard_Cox
Market activity in the GBP/USD has shown some interesting trends over the last several quarters and now that the Bank of England has delivered on its expected rate increase it remains to be seen if these moves can still continue. In most cases, when a central bank decides to raise their lending rates markets will experience an upward surge in the trading value of that currency. But while we have seen some bullish activity in the British Pound, there is scope for further downside if broader financial volatility increases next week.
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Wednesday, October 04, 2017
Will GBP/USD Decline under 1.3200 in Coming Week? / Currencies / British Pound
By: Nadia_Simmons
Yesterday, the greenback moved sharply higher against the British pound, which approached GBP/USD to the previously-broken August peaks. Will this support manage to stop currency bears in the coming days?
Wednesday, October 04, 2017
Plan for Run On The British Pound / Currencies / British Pound
By: GoldCore
Run On The Pound ? Jeremy Corbyn Says Should Plan For
– Right to plan for ‘run on pound’ if Labour wins says Corbyn and Labour party
– British pound already down 20% since Brexit, collapse already in play
– Run on the pound likely due to Labour’s ‘command economy’ approach
– Collapse in Sterling would undermine UK financial system
– Portfolios holding sterling and related assets would be significantly affected
– Pension funds and property the most likely to get hit by run on the pound
– Gold to benefit as sterling collapse picks up pace
Editor: Mark O’Byrne
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Tuesday, October 03, 2017
GBPUSD Failed To Break Above Long Term Bearish Trend Line / Currencies / British Pound
By: Franco_Shao
GBPUSD failed in its attempt to breakout of the long term resistance trend line from 1.7190 to 1.5016 on the weekly chart and pulled back from 1.3657, suggesting that a short term top had been formed.
Friday, September 22, 2017
GBPUSD Facing Major Resistance Trend Line On Weekly Chart / Currencies / British Pound
By: Franco_Shao
GBPUSD extended its upside movement from 1.1946 to as high as 1.3652, facing a major resistance trend line from 1.7190 to 1.5016 on its weekly chart. As long as the price is below the trend line, the bounce from 1.1946 could be treated as consolidation of the long term downtrend from 1.7190, and another fall could be expected after the consolidation.
Tuesday, September 12, 2017
GBPJPY Move Sideways On Weekly Chart / Currencies / British Pound
By: Franco_Shao
GBPJPY moved sideways in a trading range between 135.59 and 148.44 for several months. The sideways movement is likely consolidation of the uptrend from 122.36. As long as 135.59 key support holds, the uptrend could be expected to resume and a breakout of 148.44 resistance could signal resumption of the uptrend.
Wednesday, August 23, 2017
GBPUSD Moved Below Major Trend Line / Currencies / British Pound
By: Franco_Shao
GBPUSD Broke below a major bullish trend line from 1.2109 to 1.2589 on its daily chart. Further decline would likely be ween over the next several days.
Wednesday, August 23, 2017
GBP/USD Extends Losses / Currencies / British Pound
By: Nadia_Simmons
Earlier today, the British pound extended losses against the greenback, which pushed GBP/USD to a fresh multi-month low. How low could the exchange rate go in the coming days?
Wednesday, August 23, 2017
British Pound Rallies Higher Against US Dollar / Currencies / British Pound
By: Richard_Cox
Currency markets are starting to shake the summer doldrums that are typically characterized by weak trading volumes and low price volatility, and one of the primary beneficiaries has been the British Pound (GBP). Markets are still being forced to deal with the potential implications that could unfold after the next round of Brexit negotiations but the broader global interest rate story still seems to be setting the tone for the currency relative to the US Dollar. When viewing the forex markets in terms of the GBP/USD, bullish trends look much more pronounced and investors are wondering about whether or not it is time to establish larger positions in the cable.
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Thursday, August 17, 2017
GBPUSD Is Facing Major Support Trend Line / Currencies / British Pound
By: Franco_Shao
GBPUSD pulled back from the August 3 high of 1.3267 and dropped sharply to 1.2845 area after failing in its attempt to break above 1.3444 resistance.
Tuesday, August 01, 2017
GBPUSD Broke Above Channel Resistance / Currencies / British Pound
By: Franco_Shao
GBPUSD broke above the descending price channel at 1.3100 on its weekly chart, indicating that lengthier correction for the long term downtrend from the July 2014 high of 1.7190 is needed.
Thursday, June 29, 2017
GBPUSD rebounded from 1.2589 / Currencies / British Pound
By: Franco_Shao
Being supported by the 20-weekly moving average on its weekly chart, the GBPUSD pair rebounded from 1.2589, suggesting that lengthier consolidation for the long term downtrend from the July 2014 high of 1.7190 is needed.
Thursday, June 22, 2017
Understanding true money, Pound Sterling must make another historic low, Euro and Gold outlook! / Currencies / British Pound
By: Marc_Horn
Our future is endless possibility only limited by our imagination.... our future reality depends on our choices and actions of today!
In December of 2012 MAP Wave Analysis confirmed a long term bull market which is not yet over!
In February 2016 MAP Wave Analysis projected the low in gold is not yet in.
In April 2016 MAP Wave Analysis projected BREXIT will not be achieved and Pound Sterling must make a new historic low. The BREXIT vote narrowly won, but as most are beginning to realise just over a year later that it was a scam and there will never be a break from Europe. Just the rate and commitments of the UK with the EU army are evidence that any "exit agreement" will not return sovereignty to the UK.
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Wednesday, June 14, 2017
GBPUSD Broke below 1.2755 Support / Currencies / British Pound
By: ElliottWave-Forecast
GBPUSD recently broke below 1.2755 support on its daily chart, indicating that the short term bullish movement from the March 14 low of 1.2109 had completed at the May 18 high of 1.3047 already. Further decline would likely be seen over the next several weeks.
Thursday, June 08, 2017
GBPUSD Remains in Uptrend from 1.2109 / Currencies / British Pound
By: Franco_Shao
GBPUSD moved sideways in a trading range between 1.2756 and 1.3047. As long as the pair is above 1.2756 support, the sideways movement could be treated as consolidation of the uptrend from the March 14 low of 1.2109, and further rise could be expected after the consolidation. Near term resistance is at 1.3047, a break of this level could signal resumption of the uptrend.
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Monday, May 15, 2017
GBP/CHF: Short-term Weakness Should be Followed by Resumption of Bull Trend / Currencies / British Pound
By: MarketsToday
The larger pattern in the GBP/CHF remains bullish given the following:
- Decisive breakout of Head and Shoulders Bottom and also breakout above the 200-day exponential moving average (ema) occurred four weeks ago. (Note: Pattern is not perfect with right shoulder noticeably lower than left. But valid nonetheless given reaction of price following breakout above neckline and 200-day ema.)
Monday, October 10, 2016
UK and Forex Markets – Trading in GBP / Currencies / British Pound
By: ....
Forex (short for foreign exchange) trading is a speculative option that has increased in attractiveness over the past few years. Forex brokers offer trading that comes free of commission, and with the chance of making massive gains. It's easy to get going with trading, and forex markets do not have the same negative reputation as some other markets, such as binary options.
Friday, October 07, 2016
Sterling Flash Crash Last Night? / Currencies / British Pound
By: Marty_Chenard
Remember flash crashes?
Well, one showed up last night with the Sterling dropping about 10% and then recouping to about a 2% drop.
Here is the question ... Was it really a flash crash or a real exodus out of the Sterling? (In other words, was it a computer trading issue or a trader issue?)
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Friday, October 07, 2016
British Pound Sterling Flash Crash and the Rise of Machine Intelligence (AI) / Currencies / British Pound
By: Nadeem_Walayat
Apparently a computer algorithm (dumb AI) crashed sterling during the night, dropping it by about 10% before it mostly recovered but still remains 2% down from where it started. Whilst the media is focused on which person or group of persons could be behind the flash crash, however all are failing to comprehend the bigger picture of what this and other flash crashes represent, computer algorithms / AI's with the ability to bring our civilisation to a juddering halt literally within minutes as my forth coming series of videos on AI mega-trend investing will seek to illuminate how to profit form, because dumb AI's will within a matter of a few short years be starting to exceed human intelligence.
Wednesday, June 29, 2016
Is the British Pound Poised to Crash to $1.20? - Video / Currencies / British Pound
By: Mario_Innecco
hi Wednesday jun 29th 2016 here at home of alternative
economics and contrarian views
just a little update on the financial markets and the pound sterling
I or the british pound it's a 22 5 p.m. here in London and the pound is
rebounded fairly well from the lows we saw a couple of days ago
just below 130 - I think the lower its one-thirty one-twenty just wanted and
also we're seeing the stock market's rebound quite well I've been thousands
of another 200 points today we're like 17,600 the footsie as well with around
62 6300 so there seems to be a lot of complacency at the moment despite this
Breck's it to a vote you know a few days ago it was the end.
Monday, June 27, 2016
British Pound BrExit Crash Wins Britain Currency War! / Currencies / British Pound
By: Nadeem_Walayat
The mainstream press is in a state of hysteria, panic even following the plunge in the British Pound from a Thursday night high of £/$1.50 to currently stand at £/$ 1.32. Whilst yes the 12% downwards plunge from £/$1.50 is in forex markets terms HUGE, a move not seen the likes of for many decades that takes the dollar exchange rate down to levels last seen in 1985. Nevertheless the mainstream press has missed one fundamental fact for the obvious reason that they just DO NOT understand the financial markets and what the market movements actually mean or translate into.
Thursday, June 23, 2016
Does BREXIT Matter? Outlook for Sterling / Currencies / British Pound
By: Marc_Horn
This I want to use as an example of MWA so you can get a feel of how and why.....in my previous article I said BREXIT and your vote is only an illusion.
The overview last 3 pivots of same fractal - don't worry you will get to see them - they will become pretty obvious with practice and application of the rules and theory. The green ML is the target for a healthy wave 1 on the next smaller fractal. Failure to reach ML with break of MLL is weakness and the target then becomes SP to the high MLL or WL-1. The break is confirmed with a break of the lowest pivot or highest pivot depending on the trend.
Wednesday, June 01, 2016
British Pound Climb Continues Despite Brexit Anxiety Driving GDP Growth to Lowest in Years / Currencies / British Pound
By: AnyOption
While the Pound has recently shrugged off a further tapering in the economy, Brexit fears continue to define the economic climate as evidenced by decelerating household spending and falling business investment. As the vote draws nearer, the economic data is likely to show that the anxiety is becoming more acute, with an even deeper pullback in fundamental activity anticipated. Current forecasts are showing growth retreating even further to a 0.30% pace for the second quarter, a figure that could easily be lower based on the sluggish attitude of consumers and businesses as they await the outcome. In the meantime, the Pound continues to be sensitive to the polling, with expectations of a “Bremain” vote driving the Pound higher, despite the obvious risks to the outlook that could sharply reverse the existing momentum.Read full article... Read full article...
Monday, May 23, 2016
Can The British Pound Turn Around? / Currencies / British Pound
By: Richard_Cox
Broad trends in currency markets have been somewhat subdued for most of the year. There are few different reasons to explain why we are seeing this type of activity but it is important to look ahead in order to determine which factors are likely to present themselves during the second half of this year. Most of the recent activity has been centered on the Federal Reserve and monetary policy implications for the US Dollar. But when we are looking for oversold currencies that are basing themselves for strongly bullish runs, one of the best options in the market just might be the British Pound (GBP).
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Tuesday, April 26, 2016
Britain's Prospects: GBP and BREXIT - MAP Wave Analysis / Currencies / British Pound
By: Marc_Horn
This base chart is readily available on the internet and I cannot find a source for it so, can't vouch for its accuracy suffice to say it follows MWA and MAP wave count which is beyond coincidence, and is an excellent demonstration of the fractal nature of waves! This highlights how context to analysis is gained and the importance of data for analysis.
Tuesday, April 19, 2016
British Pound Caught In Strong Trading Range / Currencies / British Pound
By: Richard_Cox
Currency markets have had some difficulty in establishing trends for most of the year, and this has made it harder for traders to establish a strong stance when dealing with the majors. The Euro, US Dollar, and the Japanese Yen have all shown themselves to be clear examples of this but when we look at recent activity in the British Pound it is looking as though some different conclusions can be drawn.
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Wednesday, March 23, 2016
GBP/USD - Currency Bears in Charge / Currencies / British Pound
By: Nadia_Simmons
Earlier today, official data showed that the U.K. rate of consumer price inflation increased by 0.3% in Feb, missing analysts' forecasts. Additionally, although month-over-month consumer prices rose by 0.2% in the previous month, the data disappointed market participants, which pushed GBP/USD under 1.4300. How low could the pair go in the coming days?
Friday, March 18, 2016
GBPJPY And EURGBP Elliott Wave Analysis / Currencies / British Pound
By: Gregor_Horvat
GBPJPY
On the intraday chart of GBPUSD, we are looking at a possible three wave structure, labeled as A-B-C, that started from recent highs at 164.098 region, and is now trading midway through it's completion in wave B. That said wave B could be near finished, as price is unfolding near 61.8 fibo. ratio measured from wave A highs. The ideal turning point into lower levels would then be around 161-162.40 area.
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Wednesday, February 24, 2016
Boris Johnson Crashes British Pound or Wins Currency War? Video / Currencies / British Pound
By: Nadeem_Walayat
According to the mainstream media Boris Johnson's declaration to campaign for Britain to leave the European Union has triggered market panic head lines right across the mainstream press spectrum that demonstrates the magnitude of the depth of their ignorance of markets from the likes of the BBC, to Channel 4 News to the myriad of dieing broadsheet publications such as the FT, all in unison propagating headlines such as 'Boris Johnson Causes a Run on the Pound' that followed a 3 cent dip against the US Dollar on rising BrExit fears as though this was catastrophically bad news, though conveniently ignoring the fact that the FTSE actually closed higher on the so called BrExit panic Monday.
Monday, February 22, 2016
British Pound BrExit Plunge Press Panic! FACT: Helps Britain WIN Currency War! / Currencies / British Pound
By: Nadeem_Walayat
The mainstream press today illustrated the magnitude of the depth of their ignorance of the markets as right across the spectrum from the likes of the BBC, to Channel 4 News to the myriad of dieing broadsheet publications such as the FT, all in unison propagated headlines such as a 'Boris Johnson Causes a Run on the Pound' following a 3 cent dip against the US Dollar on rising BrExit fears as though this was catastrophically bad news, one of panic, though conveniently ignoring the fact that the FTSE closed higher on so called BrExit Panic day.
Thursday, February 11, 2016
British Pound Rising Despite Negative Data / Currencies / British Pound
By: MBM_Research
Trends in many of the financial markets have started to reverse course over the last few weeks with a few notable examples that have yet to be fully discussed. Some of the more closely watched examples here include things like gold and oil, which have come off sharply from their recent lows. But there are other examples that should be on the radar of UK traders, as the British Pound (GBP) is making some interesting reversals in its own right.
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Friday, January 29, 2016
GBP-USD Stuck Between Bulls And Bears / Currencies / British Pound
By: Gregor_Horvat
Correction completed or no? That's the question I am wondering while looking at GBPUSD. Firstly I assumed that we will see higher corrective for blue wave 4-cricled, because of the degree that I am tracking on a daily chart. I thought we may even see 1.4560 level, but todays decline put some doubt in that view. That said, I prepared two wave counts now, and will be ready to go with the bearish one if we get a daily close beneath 1.4172. Then I would look for a retest of 1.4080 early in February. But until then wave four can still reach higher levels with sub-wave C) if consider possible flat now in wave B). This is now time for patience, as battle between bulls and bears appears undecided.
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Tuesday, January 12, 2016
British Pound: a Harbinger of Global Financial Mayhem - Video / Currencies / British Pound
By: Mario_Innecco
Transcript Excerpt: January 12 2016 Tuesday afternoon here in london 330 London time or 1030 New
York Times just a quick video on the british Pounds British Pound is part of
the SDR basket and I spoke earlier late last year when the Chinese you one was
admitted into the SDR basket that the pound took the brunt of the hey don't
exactly remember the percentage in percentage terms how much the British
Pound lost in terms of the SDR basket to put a link to that video below at the
time though I said it should be bad for the pound and lo and behold the pound
continues to drop by is getting precipitous at the moment in my opinion
you know all the talk is about emerging market currencies devaluing the you want
to value when but you hardly ever hear anything here in the UK the mainstream
that are British Pound is actually being stealthy and that can't be good for our
Wednesday, January 06, 2016
GBPUSD And Natural Gas Elliott Wave Analysis / Currencies / British Pound
By: Gregor_Horvat
GBPUSD
GBPUSD is at new low so obviously wave 4 is already completed at 1.4815 with another sharp correction. We see current price in wave 5, final leg within an extended wave 3) that can be underway towards 1.4550 area where we see some Fibonacci ratios that can act as a support. That said, traders must be aware of turn up into a new corrective rally as we approach end of the week.
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Sunday, November 29, 2015
GBP British Pound Likely to Rally Against Euro / Currencies / British Pound
By: Richard_Cox
The EUR/GBP is often a neglected pair when we look at activity in the currency markets, as alternatives like the GBP/USD and the EUR/USD tend to receive most of the market headlines. But there are some potentially significant implications for the current activity that is being witnessed in the EUR/GBP, and this sets up some interesting trading possibilities for forex traders in these areas.
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Saturday, November 21, 2015
GBP Sterling's 180 Turn / Currencies / British Pound
By: Ashraf_Laidi
Is it finally catching up with GBP? The British pound defied gravity during most of the week, shrugging disappointing figures on inflation, retail sales and the CBI trend survey. A somewhat hawkish speech by BoE MPC member Ben Broadbent on Wednesday may have been among the causes behind the gains. The pound even managed to rally against the US dollar on Tuesday and Wednesday ahead of an expectedly hawkish set of FOMC minutes. Eventually, GBP saw the peak on Thursday evening with GBPUSD giving up at the near confluence of the 55-DMA and 200-DMAs at $1.5312 and $1.5336. Unfortunately, our short GBPUSD trade in the Premium Insights (opened on Nov 6) was stopped out at $1.5330, only 6 pips below the high of the week. After that, GBPUSD shed 1.5 cent to settle near $1.5200.
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Saturday, October 24, 2015
GBP/JPY Setting Up For Potential Failure / Currencies / British Pound
By: Richard_Cox
For the most part, financial markets have stabilized this year as volatility has slowed and overall risk aversion has been largely absent. These types of trends can have a significant impact on sentiment and the ways that specific asset types are traded, so it is critical for market traders to have a sense of where we stand in terms of generalized uncertainty. This is especially true for forex traders, as there tends to be higher levels of short-term positioning seen in those markets.
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Friday, October 23, 2015
GBP/USD Tests Last Week's High / Currencies / British Pound
By: Nadia_Simmons
Earlier today, official data showed that British retail sales increased by 1.9% in the previous month, beating forecasts for a gain of 0.3%. Additionally, year-on-year, retail sales rose by 6.5% in September, above expectations for a 4.8% gain. On top of that, core retail sales (without automobile sales) jumped 1.7% last month also beating forecasts for a 0.3% increase. Thanks to these bullish numbers GBP/USD rebounded sharply and climbed to the last week's high. Will we see higher values of the exchange rate in the coming days?
Thursday, October 15, 2015
GBPAUD: More Gains Are In Sight / Currencies / British Pound
By: Gregor_Horvat
We have seen deep three wave decline in on GBPAUD from August highs that can be now coming to an end after recent nice turn up from 2.0785 area. Notice that there was a triangle in wave (B) so recent leg down must be wave (C) final wave within a corrective move. That said, our view is bullish now, so be aware of more gains ahead, especially after 2.1305 is broken. We are tracking this one for longs.
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Wednesday, September 23, 2015
GBP Basing For New Rally? / Currencies / British Pound
By: Richard_Cox
This year, we have seen a large amount of weakness and selling pressure that has been directed as the British Pound (GBP). There have been a few different explanations for why this has been the case, as the policy trajectory is still largely unclear with respect to the stated policy stance exhibited by the Bank of England.
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Tuesday, August 18, 2015
UK CPI and GBPUSD vs TWI Divergence / Currencies / British Pound
By: Ashraf_Laidi
Sterling hit fresh 2-month highs as UK inflation improved in July, with headline CPI edging up to 0.1% y/y from June's 0.0%, and beating the Bank of England's 0.0%. The notable increase was in core CPI, which rose to a 5-month high of 1.2% vs expectations of 0.9% and a June reading of 0.8%.
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Tuesday, July 21, 2015
British Pound Still Rallying Against Swiss Franc / Currencies / British Pound
By: Richard_Cox
Forex markets have posted some significant trends so far in 2015. But when we look at the overall value of the British Pound (GBP), the comparisons are generally made against either the Euro or the US Dollar. There is a strong basis for this fact, as both of these currencies see much larger trading volumes than some of the other selections that are available in the currency markets.
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Monday, June 29, 2015
GBP: Battle of the Central Banks / Currencies / British Pound
By: Richard_Cox
Since the beginning of April, we have seen some relatively strong upside moves in the British Pound (GBP). For many, these moves were surprising, given the massive declines that were posted by the currency in 2014. But all of us with experience in the financial markets know that no single trend can last forever, no matter how strong the technical or fundamental basis for the initial reasoning. This turned out to be the case for the GBP over the last few weeks and we have now seen the GBP/USD overcome important psychological levels just above the 1.5750 mark.
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Thursday, May 14, 2015
British Pound Set To Overcome 1.40 Against Euro / Currencies / British Pound
By: Richard_Cox
For most of this year, the Pound has had mixed results depending on your frame of reference. For example, against the US Dollar the Pound is hitting new lows as expectations for rising interest rates from the US Federal Reserve have supported the greenback. For these reasons, it is largely unsurprising to see that the PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP) is rallying as there have not been many stronger currencies during most periods of this year.
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Thursday, May 07, 2015
British Pound Soars on Exit Poll Conservative Election Win / ElectionOracle / British Pound
By: Nadeem_Walayat
The British Pound has soared following the release of the Exit Poll that forecast a defacto Conservative election win on 316 seats as part of a coalition with either the Lib Dems (10) or the DUP (8). Sterling currently stands at £/$1.5415 against the U.S. Dollar, lifting the GBP towards the upper end of its recent range and indicates to expect a similar surge for other markets such as stocks and bonds on tomorrows open.
Wednesday, November 12, 2014
British Pound Breaks Channel Support Following BOE Inflation Report / Currencies / British Pound
By: Gregor_Horvat
USD is mixed across the board but we see in a strong shape against the pound after BoE forecasts that the inflation rate will fall below 1% within 6 months, and rise toward the 2% target by the end of the 3-year forecast period. The bank also cut the GDP forecast by 0.2% for both 2015 and 2016 (to 2.9% and 2.6%, respectively), and cited a weaker Europe, which was the reason for weaker GBPUSD as well as lower prices on FTSE100.
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Sunday, October 12, 2014
Mr Osborne’s Bew Pound Design Challenge / Currencies / British Pound
By: Submissions
Tom Naysburn writes: I was excited to read about Mr Osborne’s new design competition, so I decided to submit my suggestion. I am conservative by nature, I dislike waste and excess, and see untapped potential everywhere, but I don’t expect that to sway his decision.
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Friday, September 05, 2014
US Dollar and British Pound Update / Currencies / British Pound
By: Jonathan_Davis
First, a recap of what I said a month ago. Full post here.
4 August 2014:
“So, the US $ is to collapse, so say the inflationistas, the gold bugs, the Anderson shelter types etc.
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Friday, September 05, 2014
British Pound Slides on Scottish Independence YES Vote Risks, What Happens Next? / Currencies / British Pound
By: Nadeem_Walayat
The British Pound has virtually nose dived after spending the whole of the year in an uptrend to recent multi-year highs of £/$1.72 of mid July on the back of a strong UK economy when compared to the Euro-zone catastrophe that continues to unfold across the English Channel, which had prompted much flight of the capital to the relative safety of the British currency.
Wednesday, September 03, 2014
Scotland Independence Risk Sees British Pound Dive / Currencies / British Pound
By: GoldCore
Sterling fell sharply yesterday as traders became nervous of a possible vote for Scottish independence. The referendum on Scottish independence from the United Kingdom takes place on Thursday 18th September.
While the referendum and the potential impact of an independent Scotland have been on the horizon for some time, the approaching vote in two weeks is causing upheaval for the British pound in currency markets, and also more general macro uncertainty in the regional economic and monetary system.
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Tuesday, August 05, 2014
British Pound GBP/USD Impulse Wave Weakness / Currencies / British Pound
By: Gregor_Horvat
GBPUSD accelerated down to 1.6800 at the end of last week, so we suspect that pair is falling within an extended impulse. Ideally price is now recovering in wave (iv) that is part of an extended and ongoing wave 3 that may reach levels around 1.6700 by the end of the week. Only rally back above 1.6955 will invalidate the current count; so until then trend is down.
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Monday, July 21, 2014
GBP/USD Elliott Wave Analysis: Reversal To Come!? / Currencies / British Pound
By: Gregor_Horvat
GBP/USD hit a new highs of the year last week week at 1.7190, but then turned back down through 1.7057. Notice that this was fourth wave low, so if this swing is broken, then we can assume that pair accomplished a five wave rise. As such, we expected weaker pound now, but from minimum point of view that would be with three legs down, so more weakness to come after a wave 2/B rally that may look for a resistance this week around 1.7140.
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Tuesday, June 24, 2014
GBP/USD – Another Fakeout / Currencies / British Pound
By: Nadia_Simmons
Earlier today, the British pound declined sharply against the greenback after Bank of England Governor Mark Carney testimony. Later in the day, sterling extended losses after data showed that Conference Board consumer confidence index jumped to 85.2 this month from 83.0 in May (it’s worth noting that this was the highest reading since January 2008), while the number of new home sales also rose to a six-year high, increasing 18.6% in May ( the highest level since May 2008 and the largest monthly increase since January 1992). These strong bullish numbers boosted the U.S. dollar and triggered a sharp decline in the GBP/USD pair. Where could the exchange rate drop after another fakeout?
Friday, June 20, 2014
British Pound Soars above GBP 1.71, Tracking £/$1.80 Forecast Despite Scottish Independence Risks / Currencies / British Pound
By: Nadeem_Walayat
The british pound soared above GBP 1.71 and as of writing is holding steady at around 1.705. The surge in sterling confounded many market analysts who had both been skeptical of the strength of the british economy as it continues to face head winds from a depressed Euro-zone and the chaos inducing risks that surround the forthcoming Scottish Independence referendum where the polls continue to trend in the direction of the Yes vote.
Wednesday, June 18, 2014
GBP/USD: More Gains After The Pullback / Currencies / British Pound
By: Gregor_Horvat
GBP/USD broke sharply to the upside last week with a clear personality of a wave three within a five wave move in wave C). We see pair going higher now, above 1.7000 to complete wave (5). This fifth wave should be made by three legs as we are tracking an ending diagonal on a daily chart, so upside can be limited around 1.7100. At the moment we are looking at a corrective pullback in black wave 4 that may stop at 1.6900/1.6920 before uptrend resumes.
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Tuesday, June 10, 2014
British Pound or U.S. Dollar: Which Will Win The Race? / Currencies / British Pound
By: Richard_Cox
For most of this year, there has been a relatively clear cut race between the British Pound and the US Dollar. The outcome so far has been surprising, as the central bank stance in these two economies clearly favors the British Pound. As the US Federal Reserve looks increasingly committed to cutting its historic QE programs, most might have expected that the greenback would have had a banner year. But this has not occurred, and many have been left surprised as a result.
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Monday, June 09, 2014
GBP/USD: Corrective Retracement From 1.6995 / Currencies / British Pound
By: Gregor_Horvat
The GBP/USD traded higher last week and made an overlap with 1.6810 which means that any bearish impulse wave count has been invalidated. As such, we are now observing a new, bullish interpretation because reversal from around 1.6995 can be counted as a double zigzag. Notice that price also found a support a week back around the lower support line of a trading channel.
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Tuesday, May 27, 2014
GBP/USD: Bearish Reversal, Recovers Nicely / Currencies / British Pound
By: Gregor_Horvat
GBP/USD has recovered nicely last week, clearly in three waves 1.6728 to 1.6920. The pair reached our mentioned levels around 1.6900 where markets already turned slightly to the downside, and fell through support channel line that now makes room for a decline back to 1.6728 in this week.
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Tuesday, May 06, 2014
Sterling British Pound Strength and 'Real' Differentials / Currencies / British Pound
By: Ashraf_Laidi
The British pound is the best performing currency so far this quarter (+2.0% vs USD) as well as over the last 6 months (+5.7% vs USD) out of the top-traded 11 currencies.
Real differentials in 2-year govt bond yields (yield minus inflation) have helped explain currency performance over the last 2 years, including sterling's strength since last autumn.
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Monday, April 21, 2014
British Pound Looks Vulnerable At The Highs / Currencies / British Pound
By: Richard_Cox
Over the last year, the British Pound has been one of the strongest active currencies in the foreign exchange market. Most of the trends in this section of the market have been working off of the clear weakness in the US Dollar. But when we start to look at the underlying economic fundamentals (inflation rates, broader growth figures), the recent moves start to look extreme and overdone. So while this does not mean that we will see the Pound start to drop like a rock in the next few weeks, it is starting to look as though the upside in the currency is limited.
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Friday, April 11, 2014
British Pound GBP/USD - Double Top or Further Rally? / Currencies / British Pound
By: Nadia_Simmons
Earlier today, the greenback moved higher against the British pound after better-than-expected jobless claims data, which showed that the number of people filing for initial jobless benefits in the week ending April 4 declined to an almost seven year low. Will this drop in British currency trigger a bigger correction? What is the technical picture of cable? We invite you to read our today's Forex Trading Alert.
Friday, February 14, 2014
British Pound GBP Trend Forecast 2014 / Currencies / British Pound
By: Nadeem_Walayat
This is a summary extract of my latest in-depth analysis concerning the Scottish Independence referendum and its implications for the UK economy, and concluding in a trend forecast for the British Pound GBP into the end of 2014.
Wednesday, February 12, 2014
British Pound GBP Soars to Resistance, Bearish Turn Ahead? / Currencies / British Pound
By: EWI
Cable remains near its high and shows no sign of turning lower. Resistance is 1.6624 and the bearish view demands a turn lower from beneath this level. With no signs a turn is underway confidence is low. -- Jim
Monday, February 03, 2014
British Pound GBP USD Bearish Reversal / Currencies / British Pound
By: Gregor_Horvat
GBPUSD moved to a new swing high two weeks back but then turned sharply down from 1.6660 level so our count from the past weeks remains valid. We are tracking a complex correction from July 2013 that can be wave E), final leg of a wave (B) triangle pattern. If that is the case then market should move impulsively to the downside while 1.6780 high from April of 2011 must stay in place.
Monday, January 13, 2014
GBP USD Bearish Reversal / Currencies / British Pound
By: Gregor_Horvat
GBPUSD found some resistance recently around 1.6600 figure where we think that pair will form a top even if just temporary. Our primary count suggests that GBPUSD will fall in impulsive fashion because of a big picture with a bearish triangle. But for this confirmed scenario we need an impulsive sell-off back to 1.5500. For us the most important is probability on short-term swings. As such, we are also tracking the second wave count, which is different on a big scale but same on the short-term. We see a completed five waves up that now suggests a three wave retracement back to 1.5900. As such, it seems that GBPUSD will be weakening in the next few weeks.
Sunday, January 12, 2014
GBP/EUR The Currency Pair to Watch for in 2014? / Currencies / British Pound
By: Submissions
Liron Levy writes: It is crystal clear that employment is the economic sector that appears to drive the currency exchange market. No country or economic zone is today boasting that they are out of the woods as to the 2008 global recession. However, the GBP is benefiting from current figures that continue to confirm a strong ongoing improvement in the employment sector. The jobs picture in the UK exhibits falling unemployment, along with a seventh consecutive month of healthy increases in hiring.
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Thursday, December 12, 2013
British Pound GBP Correction Within an Uptrend / Currencies / British Pound
By: Gregor_Horvat
GBP/USD has turned lower in the last 24 hours from its highs, but despite some weakness we believe that larger trend is incomplete. We are tracking an impulsive rally from 1.5853 low, which means that recovery needs to be made by five subwaves. With that in mind we believe that current bearish leg represents only first part of corrective pause.
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Monday, December 09, 2013
GBP British Pound Near Resistance / Currencies / British Pound
By: Gregor_Horvat
GBPUSD broke to a new high as expected after we identified end of a corrective retracement at 1.5850. As such, we are now tracking a new impulse leg up with can be wave C, final part of a double zigzag in wave E). If this is correct count then rally from July low is near completion. Ideally we will see a reversal down from around 1.64-1.66 region.
Friday, December 06, 2013
Will British Pound Rally Continue Against the Swiss Franc? / Currencies / British Pound
By: FXAcademy
Adam Lemon writes: The GBP/CHF pair had a very back and forth session during the trading hours on Wednesday, but the most important thing is the fact that there is an uptrend line dissecting through the 1.4750 handle, and that area of course has been one of the least passing interest. Because of that, it makes perfect sense it bounced from there, and now have a somewhat neutral looking candle. However, all things being equal, it looks like the British pound is set to continue its strength against the Swiss franc. Lately, the British pound has been one of the strongest currencies to follow.
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Monday, December 02, 2013
GBPUSD Looks For Resistance / Currencies / British Pound
By: Gregor_Horvat
GBPUSD is at the highs, now above wave the trendline connected from 2009 highs but still below 1.6744 which is a triangle invalidation level from a weekly chart. As such, we are still tracking final stages of a red wave E) that could be looking for a top formation in 1.6500-1.6650 region. However, before we may look for end of a current rally we need five waves up in black wave C which is still not the case so be aware of more upside in this week.
Tuesday, November 05, 2013
British Pound GBP/USD: Weakness Could Resume After Rally to 1.6000 - 1.6050 / Currencies / British Pound
By: Gregor_Horvat
GBP/USD reversed sharply lower last week through 1.6000 with very sharp and aggressive sell off on Thursday, so it seems that decline from 1.6250 is unfolding in five waves. With that said, we suspect that pair will move even lower in this week.
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Thursday, October 24, 2013
GBP's Outlook Still Bright, but Beware Lurking Gremlins / Currencies / British Pound
By: Submissions
Justin Pugsley writes: Amongst a number of weaknesses such as a huge current account deficit the UK also has an inflation problem, which will eventually take its toll on GBP. For the time being at least a robust real estate market and recovering economy will be strongly supportive of Sterling.
The UK has long had an inflation prone economy. Today is no different. Consider the UK has an inflation rate of 2.7%. That's low by historical standards, but very high compared with its trading partners. And relative is important. Because in the US it is 1.5%, the Eurozone 1.1% and Japan 0.8%. That means GBP is losing its purchasing power at a faster rate than most of its trading partners meaning that in the long run it is a negative for the UK currency.
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Thursday, October 17, 2013
GBPUSD Looking Bearish Against 1.6260 Elliott Wave Forecast / Currencies / British Pound
By: Gregor_Horvat
GBPUSD is very slow and choppy above 1.5900 level so we think that move from the latest low is corrective, therefore we think that recovery is temporary. In fact we labeled a decline from 1.6260 with five waves down which is evidence of a bearish price action, marked as wave (a) or (i). In both cases we expect a third leg lower once corrective wave (b) or (ii) will complete a retracement. Ideally this will occur somewhere between 38.2-61.8% retracement area compared to previous decline. In that region we also have a parallel trend line connected from 1.6161 swing that could also react as a resistance level. With that said traders should be aware of a bearish waves in the next few days. This view remains valid as long as price trades beneath 1.6260 high.
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Monday, September 16, 2013
GBP-USD: When Support Line Becomes A Resistance Line / Currencies / British Pound
By: Gregor_Horvat
A decline on GBPUSD from 2008 peak to 2009 low was in five waves, which in Elliott Wave theory indicates a direction of a larger trend. This is called an impulse wave, and once this leg is complete you will see a reversal in price, against the trend, normally into a slow, choppy and overlapping price action which is personality of a correction.
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Thursday, September 12, 2013
British Pound Bearish Reversal Forecast / Currencies / British Pound
By: Gregor_Horvat
Pound (Forex: GBPUSD) is in bullish mode and reached our projected zone for this week; 1.5800-1.5900 which is actually a very important resistance zone in combination with the wave principle and Fibonacci levels. As you can see on the chart we are tracking a huge wedge pattern called an ending diagonal which usually predicts a very strong reversal. With that said, we are keeping an eye on potential sell-off on this pair from current resistance zone. This sell-off can happen soon if we consider that prices are in late stages of wave 5) now, testing 61.8% Fibonacci projection compare to wave 3) and also approaching 161.8 % extension of wave 4).
Friday, August 16, 2013
British Pound GBPUSD Three Wave Rally Suggests A Bearish Reversal / Currencies / British Pound
By: Gregor_Horvat
GBPUSD is moving higher, but rally from July low is still in three legs with wave C) now near completion as price is approaching upper trend line of a corrective channel as well as equality level compared to wave A). We can also count five waves up from 1.5100 wave B) low, so sooner or later reversal will follow, ideally from 1.5700.
Friday, July 26, 2013
Will British Pound GBPUSD Sustain The Upward Momentum? / Currencies / British Pound
By: Forex_Abode
After some struggle against the 55-day EMA, GBP/USD ultimately broke that resistance and closed above it. The high of this upward move was 1.5282.
Tuesday, June 18, 2013
GBP/USD Could Reverse Into A Deeper Pull-back, towards 1.5480 / Currencies / British Pound
By: ForexPros
We can count five waves up in wave A) from 1.5000 psychological level on the cable, which means that temporary high for this pair could be near if we consider that correction follows after every five waves.Read full article... Read full article...
Thursday, May 02, 2013
GBP/USD Trying To Form Bearish Reversal / Currencies / British Pound
By: ForexPros
On cable we can count five completed waves-up in wave C that show signs of a top around 1.5606 because of the ending diagonal in wave 5, divergence on the RSI and now also accelerating price action below the trading channel, which suggests the pair is in the early stage of a minor wave (iii).
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Thursday, February 21, 2013
How You Can Make Money Shorting the British Pound / Currencies / British Pound
By: Money_Morning
Ben Gersten writes: Shorting the yen has earned George Soros more than $1 billion in profits since November.
Now Soros has set his sights on the second-most-shorted currency in the world - the British pound.
And he may have company, as the Financial Times reports: Along with Soros Fund Management, Tudor Investment Corp., Caxton Associates and Moore Capital - some of the best global macro traders - "see similarities in UK's predicament to that of Japan" and are interested in shorting the pound.
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Tuesday, February 19, 2013
The British Pound Gets Pounded / Currencies / British Pound
By: Peter_Schiff
As the global currency war intensifies, the majority of attention has been paid to the 17% fall of the Japanese yen against the U.S. dollar over the past few months. The implosion has given cover to the sad performance of another once mighty currency: the British pound sterling. But in many ways the travails of the pound is far more instructive to those pondering the fate of the U.S. currency.
Monday, February 04, 2013
Why Sterling Crisis May Be Looming In 2013: The Black Snake / Currencies / British Pound
By: DK_Matai
It is now common knowledge that the global financial markets have begun betting against sterling in 2013, the Chinese year of the "Black Water Snake." The Black Snake is supposed to bring unexpected changes, instability and changeability. That is why it is so important in the year of the Snake to plan everything beforehand, and to evaluate adequately before taking any actions. One needs to be more careful and cautious than ever this year! It is in this spirit that the ATCA Research & Analysis Wing and the mi2g Intelligence Unit have been evaluating the situation in regard to the British pound in 2013.
Monday, January 07, 2013
British Pound Heading for Sterling Crisis 2015 / Currencies / British Pound
By: Paul_Tustain
It may be only a matter of weeks before the Pound's next great decline begins...
Right at the top of the banking pyramid you have an institution called the Bank for International Settlements (BIS), writes Paul Tustain - founder and director of BullionVault. It acts like a central bank for central banks.
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Monday, December 10, 2012
GBP/USD - On the Crossroads? / Currencies / British Pound
By: Forex_Abode
GBP/USD went as high as 1.6130 but then went into sideways mode. Another attempt of upward jump failed 2 pips below it i.e. 1.6128 and the fall took the current pair to 1.6002 before the weekly closing at 1.6042.
On one hand the break above the psychological level and a move as high as 1.6130 brings in the bullish outlook but on the other hand a failure much below November 1st's 1.6175 argues in favor of some more consolidation if a break below the psychological 1.6000 takes place. Please also check this blog post about GBP/USD.
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Saturday, December 08, 2012
Should the UK Join the Euro? / Currencies / British Pound
By: Jan_Skoyles
Jan Skoyles looks at how the Euro might not be such a bad idea if it is the interim step to a return to the gold standard. Looking at a paper written by Jesus Huerta de Soto, she looks at the Austrian arguments for the UK joining the Euro, but concludes that the current path of central bank net gold investment and private citizens choosing to buy gold is more likely to be providing the first steps to the new gold standard.
Friday, August 05, 2011
Will GBP/USD 38.2% Key Support Level Last? / Currencies / British Pound
By: Seven_Days_Ahead
Following the late April high in GBP/USD the subsequent slip back found good support from a key 38.2% area, with recovery then triggered. But after recent resistance the key support could once more come under scrutiny.
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Monday, July 11, 2011
How the British Pound Sterling Fell From Grace / Currencies / British Pound
By: Aftab_Singh
The pound sterling has come a long way since its heyday back in the 19th and early-20th centuries. Since then, the dollar has taken its place and — potentially — is itself to be supplanted in the not-too-distant future. Here, I get to grips with the marginalization of the pound as the world’s favorite ‘reserve currency asset’.
Instead of bamboozling you with the jargon used by the typical student of money, I thought I’d outline a few rudimentary concepts first. There are two main reasons for doing this:
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Friday, June 24, 2011
GBP/USD Trend Momentum on the Wane? / Currencies / British Pound
By: Seven_Days_Ahead
After positive signs were seen on the GBP/USD chart earlier this year a recent drift back threatens to develop into something more lasting.
Friday, April 01, 2011
Sterling Euro Suggests Further Sterling Weakness / Currencies / British Pound
By: Seven_Days_Ahead
The outlook for Sterling against the other major currencies seems more or less unchanged - except against the Euro.
Friday, February 18, 2011
British Pound is Poised / Currencies / British Pound
By: Seven_Days_Ahead
The Bank of England quarterly inflation report released yesterday had been anticipated by market players as the starting signal for the Bank to begin hiking interest rates sometime in the next few months.
Friday, January 21, 2011
GBP/JPY Bulls Trying to Gain Control / Currencies / British Pound
By: Seven_Days_Ahead
Price action in the GBP/JPY cross was relatively subdued in the second half of 2010, although staying on the weak side. A recent bounce has again raised the prospect of a better recovery phase, but key resistance still needs to be overcome.
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Friday, January 21, 2011
Can Sterling’s Strength Continue? / Currencies / British Pound
By: Seven_Days_Ahead
We have argued over recent months in the Macro Trader’s guide that Sterling was oversold during the financial crisis and subsequent recession. We judged the UK economy fared no better or worse than most other leading developed economies.
Friday, October 29, 2010
EUR/GBP Recovery Repelled by Key Resistance / Currencies / British Pound
By: Seven_Days_Ahead
Following the earlier fall in the EUR/GBP cross a recovery phase has been in process since the June low. However, this has now seen a test of a key resistance area, with the market accordingly pulling back.
Thursday, October 14, 2010
British Pound vs Australian Dollar (GBP/AUD) Trend Forecast into Mid 2011 / Currencies / British Pound
By: Nadeem_Walayat
Andrea asks : We are traveling to Perth in March 2011, are we best changing our money now? Or is there a chance the exchange rate will be better in the new year? Please help.
In answer to Andrea and others who have posted similar comments requesting an analysis of GBP/AUD, this analysis seeks to extrapolate recent in depth analysis on the Dollar and British Pound with regards to the Aussie Dollar.
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Tuesday, October 12, 2010
British Pound Sterling GBP Currency Trend Forecast into Mid 2011 / News_Letter / British Pound
By: NewsLetter
The Market Oracle NewsletterOct 4th, 2010 Issue #55 Vol. 4
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Thursday, October 07, 2010
Pressures Mount on Bank of England (BOE) to Devalue Pound / Currencies / British Pound
By: Chris_Ciovacco
The Bank of England (BOE) is due to make a statement today at noon in London (7:00 a.m. ET U.S.). The BOE’s actions in the next 45 days may be important to investors in the U.S. and global commodity markets. All things being equal, a weak U.S. dollar tends to provide favorable headwinds to both U.S. stocks and commodities, such as oil (USL), copper (JJC), gold (GLD), and silver (SLV). With the BOE facing more bad news on the housing front today, political pressures to join the money-printing parties in the United States and Japan are mounting.
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Monday, October 04, 2010
British Pound Sterling GBP Currency Trend Forecast into Mid 2011 / Currencies / British Pound
By: Nadeem_Walayat
Whilst many may perceive currency movements as wide multi-year trading ranges such as between highs of £/$ 2.00 to lows of £/$1.00, however all of the worlds currencies are actually in a continuous state of perpetual free fall where the multi-year high - low trading ranges are fluctuations within the differing rates of decent as all currencies are fiat backed by nothing more than mountains of ever expanding IOU's. The manifestation of the free fall in real values is the loss of purchasing power of currencies as measured by INFLATION that state propaganda has conditioned populations to accept as being a good thing.
Friday, September 10, 2010
Currency Bulls in GBP/USD Remain Uncertain / Currencies / British Pound
By: Seven_Days_Ahead
An earlier recovery in GBP/USD this year, off a 76.4% support area, came to a halt in August, again at a Fibonacci retracement. So far a s/term pullback has been supported by a 38.2% level, but there is currently risk that this could give way in due course.
Friday, July 16, 2010
British Pound Perks Up, Can the Uptrend Be Sustained? / Currencies / British Pound
By: Seven_Days_Ahead
The Pound suffered a steep sell-off against both the Euro and the Dollar during the financial crisis/recession as the UK’s public finances deteriorated at a faster pace than other developed economies.
Indeed, as the recession seemed to go on longer than in many other G7 economies, the Pound at one point looked at risk of breaking par against the Euro and approaching lows not seen since the mid 1980’s against the Dollar.
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Friday, July 09, 2010
Bull Signal in British Pound, GBP/USD Now in Place / Currencies / British Pound
By: Seven_Days_Ahead
When we last looked at GBP/USD the chart had tested a long term 76.4% retracement level, where the initial reaction had been positive. But the required bullish signals from the Daily chart were not in place – and they are now.
Monday, June 21, 2010
British Pound GBP/USD Testing Long Term 76.4% Support / Currencies / British Pound
By: Seven_Days_Ahead
The downtrend in GBP/USD tested a long term 76.4% retracement level, where the initial reaction has been positive, though muted so far. There are certain levels on the Daily chart that must be negotiated before we are able to look for a better recovery phase.
Thursday, April 01, 2010
Has Sterling Found its Feet? / Currencies / British Pound
By: Seven_Days_Ahead
The Technical Trader’s view:
Monday, March 15, 2010
British Pound Heading for Another Black Wednesday Currency Crash? / Currencies / British Pound
By: Money_Morning
Jon D. Markman writes: Outside of the earthquake rescue efforts in Chile and the Greek-rescue efforts in Brussels, the big news in the world economy last week occurred in currencies.
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Friday, March 12, 2010
Euro Sterling is Set to Go Further / Currencies / British Pound
By: Seven_Days_Ahead
The Euro has recently suffered a very pronounced period of weakness against both the US Dollar and the Japanese Yen but against Sterling it has remained strong throughout. Why is that?
Saturday, March 06, 2010
British Pound in for a Sharp Fall? / Currencies / British Pound
By: Bryan_Rich
In my December 26 Money and Markets column I focused on the outlook for 2010, and the looming threats to global risk appetite. I warned that sovereign debt problems posed a major threat to global economic recovery. And I concluded that this threat represented a catalyst for a return of global risk aversion.
Tuesday, March 02, 2010
British Pound GBP Australian Dollar AUD Currency Analysis and Forecast 2010 / Currencies / British Pound
By: Nadeem_Walayat
In response to a number of requests for an analysis of the Australian Dollar, this article seeks to conclude towards a forecast trend for the British Pound against the Australian Dollar for 2010. Thought readers should note that I neither track nor trade this currency cross and nor do I have the time to spend several weeks performing an in depth analysis of the Australian economy, therefore I am instead will relying upon existing analysis of the U.S. Dollar and GBP as a relative guide in terms of currency trends.
Tuesday, March 02, 2010
Election Risks, Debt and Inflation Push British Pound Below £/$1.50 Towards £/$1.40 Target / ElectionOracle / British Pound
By: Nadeem_Walayat
Sterling hit a new low for the year against the U.S. Dollar of £/$1.49, now having fallen by more than 10% from a high of £1.68 just a few weeks ago. The mainstream press has scrambled to explain the fall away as a consequence of the narrowing in opinion polls between Labour and the Conservatives that over the weekend showed the lead shrink to between 2% and 5% and therefore put the election into hung parliament territory (Labour has a in built 4% advantage over the Conservatives).
Monday, March 01, 2010
Traders Eye GBP For Dollar Strength As Euro Holders Risk Shorts Squeeze / Currencies / British Pound
By: Ashraf_Laidi
The escalating negative dynamics surrounding GBP are giving FX traders a new means of going "long USD", as excessive shorts in EUR risk a short squeeze in light of possible "Greece breakthrough" of German banks purchasing Greek bonds. And so rather than getting caught wrong-footed in opening new shorts in EUR, FX markets face fresh pretexts for sending GBP back towards last year's lows.
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Friday, February 26, 2010
Sterling Euro Possible Breakout / Currencies / British Pound
By: Seven_Days_Ahead
The Technical Trader’s view:
Friday, February 19, 2010
GBP/USD Support Only Temporary / Currencies / British Pound
By: Seven_Days_Ahead
After finding strong resistance last year GBP/USD has now started to break through 38.2% support, which was effective in Oct-09. Slightly lower support has emerged but s/term rallies should be temporary prior to a deeper pullback.
Saturday, January 09, 2010
Pressure Mounting on the British Pound / Currencies / British Pound
By: Bryan_Rich
The UK economy is in a tough spot … it’s the only major economy that has yet to emerge from recession. It’s running the largest budget deficit of any industrialized country. And its central bank has thrown everything, including the kitchen sink at the problems trying to stimulate economic activity.
Saturday, December 26, 2009
British Pound GBP Forecast 2010 Targets Drop to Below £/$1.40 / Currencies / British Pound
By: Nadeem_Walayat
This is the next in a series of analysis as part of my unfolding inflationary mega-trend scenario towards the formulation of 2010 forecasts for inflation, interest rates and economy. I aim to complete the whole scenario and implications of before the end of December which will be published as an ebook that I will make available for FREE. Ensure you are subscribed to my always free newsletter to get the latest analysis in your email box and check my most recent analysis on the probable inflation mega-trend at http://www.walayatstreet.com
Friday, December 11, 2009
Sterling’s Politics v the U.S. Dollar and the Euro / Currencies / British Pound
By: Seven_Days_Ahead
The Macro Trader’s view:
This week’s pre-budget report was, broadly speaking, a disappointment. It has been judged broadly fiscal neutral, with all the tough spending decisions deferred until after the General election due by May/June of next year, despite assurances to the contrary by Chancellor Darling.
Tuesday, October 13, 2009
British Pound A Major Disaster Just Waiting to Happen? / Currencies / British Pound
By: Garry_Abeshouse
Iit may be an important key to events that will be played out over the coming weeks and months. Firstly, the long term chart (courtesy of www.sharelynx.com) shows the price going back to 1971. Important to notice here is the 1982 – 1985 fall from 2.4 to near parity, just above 1.0. Read full article... Read full article...
Friday, October 09, 2009
Will Euro/ British Pound Bulls Pause for Breath? / Currencies / British Pound
By: Seven_Days_Ahead
An impressive upmove in EUR/GBP has shaken off medium term bear risk, we believe – any pullbacks now will most likely be temporary/corrective ahead of further upside. It is worth looking at the current technical position, and supports to any slip back. Read full article... Read full article...
Sunday, September 27, 2009
British Pound Devaluation Delusions / Currencies / British Pound
By: Phill_Tomlinson
"It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued."
Harold Wilson, British Prime Minister, after the Pounds devaluation in 1967
"A weak currency arises from a weak economy which in turn is the result of a weak Government."
Gordon Brown, During the Pounds devaluation after it was withdrawn from the ERM
Friday, September 25, 2009
Does the Bank of England Want a Weak British Pound? / Currencies / British Pound
By: Seven_Days_Ahead
After a steep sell off against both the Dollar and the Euro in the wake of the financial crisis, the Pound began to bottom out during the 1st quarter of this year, as it became evident that other G7 economies were doing as badly as the UK, if not worse.
Read full article... Read full article...
Friday, September 25, 2009
British Pound Undermined by the Bank of England, Sterling Bear Market Resumes / Currencies / British Pound
By: Nadeem_Walayat
The Bank of England and Mervyn King's recent announcements in the mainstream press have clearly been aimed at sending the markets a signal that official policy favours a weak currency so as to support the economic recovery by boosting the export sector. The reaction in the markets was for a swift drop in the exchange rate across all major currencies and most notably against the Euro which triggered a fall of over 8% from the recent high of 1.20 to below 1.10
Sunday, September 06, 2009
British Pound in a Position of Weakness / Currencies / British Pound
By: Bryan_Rich
In the past month we’ve seen statistics that indicate the recession for major economies will be ending this year. And in some countries, like Germany, France and Japan, their recessions technically ended in the second quarter.
But do these statistics mean better times are ahead for consumers … more jobs … friendlier lending policies? Does a positive quarterly GDP, rising from the steepest global economic contraction in 60 years, mean that the risk of another shock to the global system has diminished?
Read full article... Read full article...
Monday, August 31, 2009
British Pound Renewed Weakness / Currencies / British Pound
By: Seven_Days_Ahead
The Macro Trader’s view:
On the 30th July, 4 weeks ago, we wrote a piece entitled “How vulnerable is Sterling”, our conclusion at the time was that we thought it not very vulnerable against the Euro, since we judged, based on available macro economic data available at that time, that the UK looked closer to emerging from recession, than did the Euro zone, and in some respects the UK economy compared favourably against the US economy too.
Thursday, August 27, 2009
British Pound in Precarious Situation, Government Debt Downgrade Coming Soon ? / Currencies / British Pound
By: Frederic_Simons
A lot has been written lately about a possible US Dollar crash. Currently, however, it looks as if a crash in the world's reserve currency has been averted for the time being. Only EUR/USD trading above 1.44 would put the US Dollar crash alert on yellow again.
Monday, August 17, 2009
British Pound Rally Hits the Buffers But Sellers Should be Cautious / Currencies / British Pound
By: Seven_Days_Ahead
The Technical Trader’s view:
Saturday, August 01, 2009
British Pound, What Happened to the Weakness of Sterling? / Currencies / British Pound
By: Seven_Days_Ahead
The Macro Trader’s view:
The Pound has staged a sometimes volatile recovery for much of this year. It is now far higher than the lows it reached during November and December 2008 when traders thought the UK would suffer most of the G7during the recession.
Monday, July 27, 2009
British Pound Remains Under Threat of Another Bear Phase / Currencies / British Pound
By: Seven_Days_Ahead
As with other markets GBP/USD has been broadly consolidative during June and July, with upside attempts being successfully repelled so far. In recent FX Trading Guides we have wondered if the 30-Jun spike to 1.6744 and drop back marked a blow-off move, in preparation for a better bear phase – and we still believe this is a prospect.
Thursday, June 25, 2009
What’s Wrong with the British Pound? / Currencies / British Pound
By: Seven_Days_Ahead
The Macro Trader’s view:
After a solid rally away from the lows stretching over 3 months, much of June has been characterized by sideways trading. Cable seems to have has lost its way.
Read full article... Read full article...
Saturday, June 06, 2009
Will the British Pound Get Pounded? / Currencies / British Pound
By: Money_and_Markets
Bryan Rich writes: When financial markets were on the way down, risk aversion reigned and every investment that was deemed risky crashed. The U.S. dollar and 10-year Treasuries did well as global investors fled to safety.
But for the last three months this trade has been in retracement mode. And the further it has retraced, the more it has fueled optimism in the outlook for a recovery.
Read full article... Read full article...
Wednesday, May 20, 2009
British Pound (GBP) Upside Trend Break Out Analysis / Currencies / British Pound
By: INO
Taking another look at the British pound.
On May 8, I produced a video which gave a detailed analysis of the British pound (GBP) versus the US dollar (USD). At that time I expected the British Pound to continue its gains against the US dollar. In today's video I will revisit GBP/USD cross to see just what has happened to this market.
Read full article... Read full article...
Wednesday, February 18, 2009
British Pound to Crash to New All Time Lows / Currencies / British Pound
By: FleetStreetInvest
Don't be fooled by recent mainstream press reports of a ‘pound rally'. What we're seeing here are short-lived bursts rather than a proper, sustained gain. The trend for the pound remains down. Why? Because UK interest rates and the economy are both heading south.
Read full article... Read full article...
Saturday, January 31, 2009
British Pound Collapsing Under Weight of Bankrupt Banks Liabilities / Currencies / British Pound
By: Money_and_Markets
Jack Crooks writes: Great Britain's Prime Minister, Gordon Brown, is meddling in the Bank of England and U.K. Treasury, much the same way that our Hank Paulson and Ben Bernanke have done. And now everything that Mr. Brown is struggling with underlines why his home currency has performed so poorly recently … and will continue to disappoint. Read full article... Read full article...
Friday, January 23, 2009
Sterling's Damage and Geithner's U.S. Dollar Policy / Currencies / British Pound
By: Ashraf_Laidi
Currency market participants are faced with increasingly diverse options amid the deepening erosion of risk appetite, persistent banking losses and deteriorating measures of corporate and household wealth. While yen-supportive strategies remain most prevalent amid the worsening risk-landscape, broad selling of the British pound and bearish stances in the commodity currencies (CAD, AUD and NZD) has also proven rewarding. The US dollar continues to emerge as a reliable companion to the yen in strengthening by default against the European and commodity currencies. Read full article... Read full article...
Thursday, January 22, 2009
Sterling Sinks as Britain Teeters on Brink of Bankruptcy / Currencies / British Pound
By: Mike_Shedlock
The British Pound has imploded on fears of bank nationalization and Prime Minister Gordon Brown's plan to give the Bank of England unprecedented powers to buy securities. This chart paints the not so pretty picture. Read full article... Read full article...
Tuesday, January 20, 2009
More Bank Bailouts to Come, So Keep Selling Sterling / Currencies / British Pound
By: MoneyWeek
Hmm. I'm not sure that Gordon Brown got the result he hoped for yesterday.
After the first Great British banking bail-out, Mr Brown thought he had saved the global banking system – the "world", no less. And plenty of pundits were happy to indulge his fantasies.
Read full article... Read full article...
Saturday, January 10, 2009
British Pound Heading for a Record Low Against the Euro / Currencies / British Pound
By: Econgineers
In less than 18 months the British Pound has lost 30% of its value. What used to be a steady and constant trading range is now a steep downtrend. The fundamentals behind this price-action; negative macroeconomic outlook, increase in unemployment, drastic decrease in net lending, slowdown of general demand affecting retail and industrial activities, have decrease confidence in the UK’s economy, invariably impacting money flow even further.Read full article... Read full article...
Friday, December 12, 2008
What the Sterling Crisis Means for You / Currencies / British Pound
By: MoneyWeek
If this isn't a sterling crisis, what is? Not content with plunging 25% against the dollar over the last six months, the pound is now fast heading for parity with the euro.
Our so-called government may think it can solve Britain 's economic problems via borrowing like crazy, and letting sterling collapse into the bargain.
Read full article... Read full article...
Thursday, December 11, 2008
British Pound Heading for Parity Against the Euro / Currencies / British Pound
By: Nadeem_Walayat
Sterling continued its Crash of 2008 by falling to a new all time low against the Euro by trading below 1.14, which is just another marker enroute towards parity to the Euro as investors and speculators continue to adjust to the deteriorating fundamentals of record low interest rates, economic stagflation and an exploding pubic sector debt burden that is likely to cripple the British economy for many years AFTER the recession of 2009. Already some Bureau De changes are offering an exchange rate to the Euro of just 1.04.Read full article... Read full article...
Monday, December 01, 2008
Britain to Give up the Pound and Join the Euro? / Currencies / British Pound
By: Nadeem_Walayat
It seems that every few weeks more panic measures are announced by the UK government as it is forced to take drastic action in the face of a collapsing financial system and economy slumping fast into recession. First came Septembers ban on short selling of banking stocks, followed by the £500 billion budget busting bank rescue in October, then the panic interest rate cuts, and most recently the emergency VAT cutting budget, now speculation is growing as discussions are leaked that Britain is moving towards joining the Euro as alluded to by the
European Commission President Jose Manuel Barroso whilst speaking on French TV and radio Sunday:Read full article... Read full article...
Thursday, November 06, 2008
British Pound Weakens Ahead of Interest Rate Cut / Currencies / British Pound
By: Nadeem_Walayat
Sterling weakened from yesterdays level of £/$1.61 trading down to £/$1.59 ahead of today's anticipated rate cut which earlier analysis suggested could be as much as 1%. However the Pound is extremely oversold following its 25% crash from the high of £/$2.11 all the way to £/$1.53, this suggests that even a 1% cut would result in limited downside action until sterling has managed to work out its oversold state.Read full article... Read full article...
Friday, October 24, 2008
British Pound Crashes on GDP 0.5% Contraction / Currencies / British Pound
By: Nadeem_Walayat
The British Pound Crashed following the worse than expected GDP data that showed that the UK economy contracted by 0.5% in the third quarter which was against consensus forecasts of 0.2% and the Market Oracle forecast for a 0.3% drop. Anything worse than 0.3% was expected to lead to panic selling of sterling which is what transpired. The British Pound fell from an already depressed level of £/$1.61 all the way to £/$ 1.5250 a drop of more than 8 cents which represents the largest intra-day drop since exchange rates started to float freely following the collapse of the Bretton Woods system in 1971 due to trade imbalance strains. Read full article... Read full article...
Monday, September 08, 2008
British Pound Slides Deeper Against US Dollar / Currencies / British Pound
By: Regent_Markets
It was a good week for European equity markets with the FTSE100 finishing the week at 5636, its highest level for nearly two months. US markets didn’t have such a good time of it, with the Dow Jones and S&P500 finishing largely flat on the week and the Nasdaq closing well down after a sell off on Friday. There was better news for the Greenback though, as the Pound fell to its lowest level for two years against the US Dollar. Although the Dollar has undoubtedly been strong over the last month, last week’s move on Cable (USD/ GBP) was largely a factor of the weakening pound. It made a record weekly low against the Euro and fell to its lowest levels since spring against the Japanese Yen.Read full article... Read full article...
Sunday, August 17, 2008
British Pound Crashes on Dovish BOE Inflation Report / Currencies / British Pound
By: Regent_Markets
The FTSE finished the week down slightly, but the real loser last week was UK PLC. The pound crashed as various factors come to a head. Up until July, the US Dollar was the currency the world loved to hate, last week it was sterling's turn to be punished. The Bank Of England inflation report was more dovish than expected, opening the doors to possible interest rate cuts before the year is out.Read full article... Read full article...
Monday, April 28, 2008
British Pound: RELATIVELY Strong … / Currencies / British Pound
By: Black_Swan
We’ve been dogging on the pound for a series of months now. And for the most part, we expect to be dogging on it for months to come. Basically, weak economic data points are going to weigh on Bank of England and their interest rate policies. That, in turn, should undermine the pound. But ...Read full article... Read full article...
Tuesday, February 19, 2008
AUD/GBP Favourite Currency Play for 2008 Continues to Profit / Currencies / British Pound
By: Ashraf_Laidi
While central banks in most industrialized economies are either reducing interest rates or expected to do so thus year, the Reserve Bank of Australia is expected to further raise its rates to fresh 12-year highs. Overnight, the RBA revealed in the minutes of its policy meeting this month a debate whether to raise rates by 50-bps. The central bank ended up raising rates by 25-bps to 7.25% to counter rising wage and price inflation. Last week, the Aussie hit multi-month highs after Australia 's unemployment rate unexpectedly fell to a 34-year low of 4.1% last month from 4.3% in Dec. Interest rate futures are now pricing an 80% probability of a 25 bps rate hike next month. Diverging interest and GDP growth rates were the backbone of our December calls for broad Aussie gains versus GBP, EUR and USD. Read full article... Read full article...
Monday, December 31, 2007
British Pound Currency Forecast 2008 - GBP Headed Sharply Lower Against Strong Japanese Yen / Currencies / British Pound
By: Money_and_Markets
Jack Crooks writes: First, and most importantly, I hope you're closing out a happy, healthy and prosperous year. And I wish you the best in everything that 2008 brings.
When the markets are as exciting and nerve-racking as they've been this past year, it becomes increasingly difficult for us to look beyond the headlines. But if we are to profit, we must persist.
Read full article... Read full article...
Sunday, December 23, 2007
British Currency Ready for a Pounding! / Currencies / British Pound
By: Money_and_Markets
Throughout the year, we've told you why the U.S. dollar was weakening. The reasons are many, and most of them are still relevant.
But as 2007 winds down, I want to tell you what could be next year's biggest trend: Some other currencies feeling similar pressures. You see, the credit crunch is expanding, and so is the list of vulnerable parties.
Read full article... Read full article...
Thursday, December 20, 2007
British Pound Plunges on Record Trade Deficit / Currencies / British Pound
By: Nadeem_Walayat
Sterling already reeling from the credit crunch hitting the financial sector hard, tumbled again today on news of the biggest trade deficit since the aftermath of Nigel Lawson's late 1980's boom which was followed by early 1990's bust. The trade deficit soared to £20billions for the third quarter, in large part the credit crunch is to blame as investment income flows out of the worlds financial centre in London, whereas usually the case is for a healthy surplus. The deficit as a proportion of GDP amounts to 5.7%, and is way ahead of city estimates of 3%.Read full article... Read full article...
Monday, November 12, 2007
Pound Sterling Plunges Against the Yen / Currencies / British Pound
By: Regent_Markets
For once it wasn't just the Dollar that took a beating last Friday as the British pound fell sharply against the Yen, Euro, Swiss Franc and even the Greenback itself. The fall was all the more telling given the general mauling the dollar took last week against a whole host of currencies. Before Friday's pullback the Dollar hit a 26 year low against Sterling.Read full article... Read full article...
Tuesday, May 29, 2007
Pound VS Dollar Currency Analysis / Currencies / British Pound
By: Submissions
What happened ? We have had an interest rate rise and we have seen an increasing backing for another rise sometime soon.I am surprised that this has not been bullish for the pound
We have also seen some really benign inflation data coming out in America which would be dollar-negative, so why hasn't there been more pressure on dollar
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Sunday, March 04, 2007
British Pound (GBP/USD) Targeting a Significant Downtrend to 1.8600 / Currencies / British Pound
By: Nadeem_Walayat
The US Dollar strengthened late last week, especially against much a weaker British Pound, which ended Friday on a weak 1.9430. The Pound earlier in the week again failed to get anywhere near breaching the previous high of 1.9890.
Saturday, September 23, 2006
The Pound is finding resistance above 190 / Currencies / British Pound
By: Nadeem_Walayat
The British Pound has rallied strongly from the lows earlier in the year to 190, but now has hit heavy resistance at above 190, which suggests a correction is likely.
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Tuesday, April 18, 2006
Is it time for the British Pound to resume its Bull Market ? / Currencies / British Pound
By: Nadeem_Walayat
The British Pound (GBP) has spent the last 6 months building a firm support base between 170 and 178, and is now showing signs that it is ready to resume the main uptrend that began June 2001.
