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Welcome and thank you for visiting!

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...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Late Summer

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Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 26 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
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* Thurs. Nov. 22 ~ U.S. markets closed for Thanksgiving Day Holiday & NYSE closes early @ 1:00 pm on Fri. Nov. 23
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Friday, May 15, 2015

British Pound Running Out of Steam?

If you'd bought the British Pound back in mid-April of this year, you'd have made a pretty penny, as shown on the following Daily chart of $XBP...likely in anticipation of the British election, which was held on May 7th. Price closed at 153.79 on that day.

If price can hold above the 200 Daily Moving Average (156.59), the next resistance level is around the 162.50 price. However, we may see some whipsawing around the current price until the overbought indicators settle down a bit. And, this chart is still under the bearish influences of a Moving Average Death Cross formation, so price may simply be retesting the 200 MA before plunging, once again, possibly to the 50 MA (150.37), or lower...or it may stop at the above-noted close of May 7th before resuming its trek upward.