Archived IMT (2010.09.23)
GBPUSD HITS 5-WEEK HIGHS at $1.5741, coinciding with the 61.8% retracement of the 1.6002-1.5296 decline. Daily sochastics show the possibility of further gains to $1.5900. Note that the $1.57 was a major LOW in Oct 2009 and a HIGH on December 2008. Medium term resistance stands at the $1.5990 trendline resistance extending from the $1.6877 high in Nov 2009. When I said BoE QE will most likely follow in the footsteps of the Fed, the time lag could take anywhere between 1-3 months. Downside risks for GBPUSD remain, but particularly in GBPJPY and GBPCAD. (See this Video for more detail http://bit.ly/bD3cta ) The rally in EURGBP is a manifestation of the lingering doubts and weakness in sterling. The rally in stocks has certainly helped GBP. Keep an eye on 1130 level in SP500 & wjether we see a close above $1.5700 in NY.
Latest IMTs
-
Deflationary Bitcoin صلابة بيتكوين
by Ashraf Laidi | Apr 24, 2024 11:20
-
Of Gold Extensions مقياس إمتدادات الذهب
by Ashraf Laidi | Apr 15, 2024 16:38
-
Bitcoin performance & Miners Prehalving
by Ashraf Laidi | Apr 9, 2024 17:07
-
English Translation to Arabic Interview
by Ashraf Laidi | Apr 7, 2024 21:01
-
فشل الفدرالي في إقناع الأسواق
by Ashraf Laidi | Apr 6, 2024 14:17