For the past four trading days, the British pound has been stuck in a 200 pip range against the U.S. dollar and a 115 pip range against the Euro. However the bottom of the range in both the GBP/USD and EUR/USD have been broken, leading currency traders to wonder if the larger range will be [...]

Posted in 2009 british pound forecast, Bank of England, British Pound, Forex Technicals, GBPJPY, forex blog, gbpusd 3 Comments »

We finally have a meaningful pullback in the currency market and I strongly believe that rather than being a top, this is an opportunity to add to short dollar positions. The currencies that I am the most bullish the dollar against are the Australian dollar and British pound.
Australia reported hot GDP numbers [...]

Posted in 2009 british pound forecast, Australian Dollar, aud/usd, australian dollar forecast 10 Comments »

Many people have criticized the U.K. government’s response to the financial crisis and recession but U.K. officials may be having the last laugh. The latest string of economic data has been surprisingly strong. There are signs of stabilization in both the housing and labor markets. Last week, the Bank of England increased the [...]

Posted in 2009 british pound forecast, British Pound, Forex Technicals, forex blog No Comments »

For you technicians, hopefully you have caught the major break in GBP/JPY today.

Posted in 2009 british pound forecast, British Pound, Forex Technicals, GBPJPY, forex blog 5 Comments »

Over the past 2 weeks, the British pound has soared more than 8 percent against the U.S. dollar. Like many countries around the world, the U.K. has succumbed to higher gas prices but unlike some other countries, the weakness of the British pound has exacerbated the rise in inflation. Hotter consumer prices helped to [...]

Posted in 2009 british pound forecast, Bank of England, British Pound, Forex Technicals, Mervyn King, forex blog, quantitative easing 3 Comments »