Tag Archive for: British Pound
Update on EUR/USD, March 23, 2017
/by Peter BrandtInterim Factor Update, March 22, 2017
/by Peter BrandtBritish Pound (GBP/USD)
/by Peter BrandtBritish Pound (GBP/USD)
The dominant chart construction in Cable (British Pound – GBP/USD) is the completed 30- year rectangle on the quarterly graph with a target of 1.0345 — and .7790 as an outside possibility.
However, I will note that the Commitment of Traders data shows specs have an all-time record short position and commercials an all-time record long position in British Pound futures. This is not typically a profile consistent with a further downward trend.
I would not be surprised if GBP/USD retests major resistance in the 1.39 to 1.41 zone. Factor is flat. If the Cable does rally toward 1.40, I will be watching closely for a selling opportunity in the way of a small topping pattern on the daily chart. There is also a chance – supported by Friday’s reversal day – that the daily chart is forming a symmetrical triangle congestion.
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Precious metals, Wheat, GBP, Cotton and Sugar
/by Peter BrandtFactor Update – July 10, 2016
/by Peter BrandtGeorge Soros and the British Pound — A Case Study
/by Peter BrandtFactor Update – May 15, 2016
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