As an exclusive update for our newsletter readers, we wanted to highlight some trading opportunities in currencies that should manifest during the first 1-2 months of 2020.
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.
We think it’s time for the downward trend to resume
April bulletin from Trading On The Mark
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.