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 »

**Update on 6/30/09 at 1:30pm - GBP/JPY hit an intraday high of 160.27, hopefully you were able to bank some pips on this trade. The reversal candle that we have right now suggests that we could see a deeper pullback to 156.
We have a nice upside breakout in GBP/JPY this morning that has been [...]

Posted in 2009 gbpusd forecast, British Pound, GBPJPY, forex blog 5 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 »

Carry trades use to be one of the most popular trading strategies for retail forex traders, but in the past year, that has changed significantly. The Japanese have always been the biggest buyers of carry trades but having been burned significantly, they are finally starting to cut their losses. According to the latest [...]

Posted in Carry Trades, GBPJPY, Japanese Yen, forex blog 5 Comments »

There has been a lot of volatility in the foreign exchange market this morning, driving currencies to historic levels:
GBP/USD - 23 Year Low
USD/JPY - 13 Year Low
NZD/USD - 6 Year Low
EUR/JPY - 6 Year Low
CAD/JPY - 13 Year Low
GBP/JPY - Record Low
NZD/JPY - 8 Year Low
The most significant moves have been in the British pound, [...]

Posted in 2009 british pound forecast, 2009 gbpusd forecast, Bank of England, British Pound, Canadian Dollar, Forex Technicals, GBPJPY, Swiss Franc, eur/usd, forex blog, swiss national bank 3 Comments »