Two resistance zones to watch
We show where to look for the trades
Primary view is that GBP futures are in the first stages of a move that should test or exceed the 2017 low. A monthly chart for perspective is below.
The British Pound ETF (FXB) is assumed to be forming a wave [iv] like most of the major USD crosses. The move up from the early 2017 low has stalled against a possible wave [iv] target but has not quite pushed low enough to break the uptrend.
We think it's time for the downward trend to resume
GPB has fallen from what I am calling a 'B' wave high in 2014 to a low early this year and been bouncing in a overlapping move to the present. Since the assumption that this drop is a 'C' wave, it...
Last week's spike in the British Pound caught some traders off guard, but if you have been following our posts at See It Market you were prepared for it.
April bulletin from Trading On The Mark
I think an inflection in the major dollar cross rates is sneaking up on us either this next month or in June. Note: FXB weekly chart added Late last year and early this year we have been looking for...
In our latest video, Tom narrates the decline in the British Pound and related ETF, with special attention to scouting for further shorting opportunities some months ahead.
The British Pound appears to be following the script we described in our July post and refined in our October post. The next phase of the Elliott wave pattern should take the form of a bounce or an upward/sideways consolidation, and other technical tools show how far upward that pattern might reach.
GBP is bouncing from support and should be entering a corrective formation for several months before attempting a drive to yet another low. I've worked up monthly and weekly charts for both the...