Newsletter: British Pound hinting at a more lengthy decline

The British Pound is signaling that the next phase of its decline may be more lengthy and "zig-zaggy" than originally expected. For the traders who follow our Elliott wave newsletter, that means there should be more opportunities for bearish and bullish trades during the next year.

British Pound futures & ETF 2017-07-22

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...

British Pound futures and ETF (FXB) 2017-04-24

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...

British Pound: The decline might pause for a few months

If you have been trading the decline in the British Pound, it may be time to take profits. We have been monitoring an expected five-wave structure down from the 2014 high in futures prices, and an important support level at 1.2120 appears to be holding.

British Pound futures and ETF (FXB) 2017-01-25

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...