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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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

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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.