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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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Wednesday, December 14, 2011

US $ vs British Pound Sterling

With Britain's Prime Minister Cameron walking out of the EU Summit talks last week and withdrawing Britain's support for their latest agreement, it could be interesting to see whether money flows (potentially out of commodities and equities) into the British pound sterling, or the US $, or both, if the Euro continues to weaken.

Below is a Daily chart of GBP/USD. The British Pound was weaker today than the US $, but has paused at trendline support.

Below is a Daily chart of EUR/GBP. The Euro was weaker today than the British Pound, but has also paused at trendline support.

Below is a Daily chart of EUR/USD. The Euro was weaker today than the US $, but has also paused at a confluence of price and trendline support.

All in all, the Euro has been weaker than the US $ and the British Pound recently...on the currency side of things, it appears that money has been flowing into the US $ and the Pound, with more flowing into the US $. The 5-day 5-minute percentage comparison chart below confirms this relationship...something to watch for in terms of either a continuation or a reversal of money flow back into the Euro.