Market commentary and analysis insights. Brought to by FM Capital Group.
Sterling ends the week weak across the board. Profit-taking was the theme this Friday trading session as investors banked pips on a strong bull trend in sterling that has been raging for weeks. As we head into the weekend, the question that traders start to ask is: did we witness a correction this week or …
Continue reading “Sterling Digest, May 11 2012: the cracks appear”
After such a bullish close to the week, it seems almost natural that sellers and sterling bears start piling into the market looking for their next opportunity at these higher levels. Second Baby Squid Rumored To Be In The Running For Bank Of England Head (Zero Hedge) Speculative Investors Aggressively Betting On More Pound’s Gains …
Continue reading “Sterling Digest, April 29 2012: bears want in”
The market loves magic numbers. And the one on radar is 1.60. GBP is dealing with 1.60 on 3 currency pairs that I follow. This is quite uncanny and ironic but maybe not so much coincidence. $GBPUSD, $GBPAUD, $GBPCAD is a strong dollar bloc. Their breakouts above 1.60 marked technical reversals across this bloc to …