GBPUSD-081109

Hello friends,

The week ended with exciting moves amidst mixed positive as well as negative sentiments and data as well. As expected USD came under pressure which further helped Pound to remain stronger.

Coming week, Pound has all the chances to test again 1.67 discounting inflation and other data to be released from UK. I would remain cautious on the long side as the up move would be with less strength than one would expect.

Probable Supports: 1.6544, 1.6487, 1.6372; Resistances: 1.6687, 1.6740, 1.6829

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

GBPUSD-311009

Hello friends,

I would call this week’s price action of Pound as a balanced one when compared to the previous couple of weeks. Coming week is flooded with array of economic data from UK, the outcome of which will help traders capitalize on volatile price movements.

While 1.62 is still holding well, surpassing 1.65 will be entirely based on the market sentiment. After the release of GDP data, there has not been much noise from UK to support Pound either to go down or to go up, she has been solely following USD. On USD front, coming week will see some more up move but the move may have weakness. On the whole it will be yet another interesting week ahead.

My Probable Supports: 1.6390, 1.6323, 1.6249; Resistances: 1.6544, 1.6617, 1.6691

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

GBPUSD-251009

Hello friends,

Hope all of you are enjoying the weekend after having spent a dazzling trading week with the Pound.

While the traders would be leading their life in their usual way, the great economists would be busy debating why, how and what, when their so called forecasts, theories and researches have long ago become a laughing stock and insignificant; only they are yet to realize that. Hope they would at least now start thinking pragmatically and start reworking their theories and researches and stop taking part in the so called researches conducted by Bloomberg, CNBC and etc. for every data that is released on a daily basis and stop giving their pathetic opinions and advises. Instead, I would rather advise them to go out and start working with the farmers and factory workers, who sweat, shed their blood and sacrifice a lot to earn every penny to better understand the true and real meaning of economy and economics instead of wasting time doing useless researches and appearing in all the idiot boxes to give their worthless and irresponsible opinions and advises and at the end of the show feel proud they have done a great job.

In continuation to my last post made on 22^nd Oct. 09, Pound while rising close to 1.67 without much strength, upon satisfying the GDP data of UK released on Friday the 23^rd Oct. 09 did not show any improvement, gave up almost 3 days gains in one shot. Although the fall was quite steep, she has chances to take 1.62 support and make a temporary come back.

My Probable Supports:1.6238, 1.6188, 1.6045; Resistances: 1.6378, 1.6449, 1.6519

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

GBPUSD-221009

Hello friends,

Yet another dazzling week for Pound, setting stage for the forthcoming GDP report on the status of the UK economy, to be released on Friday.

Despite the rise has been significantly without much strength, driven mostly by the sentiment, chances look bright to test 1.67 in the midst of conflicting signals and statements arriving from UK.

Technically speaking, my 1.6254 provided good support and all my resistances were firmly broken. I would recommend position traders as well as day traders to be cautious as there will be huge volatility before GDP report is released on Friday.

Probably Supports: 1.6519, 1.6416, 1.6378; Resistances: 1.6659, 1.6759

Healthy And Wealthy Trading

GBPUSD-161009

Hello friends,

In the last few days, Pound had witnessed a phenomenal come back with a great vigor after taking support from 1.57.

While there is still life to sustain the gains and test 1.64, I would be cautious on the long side and keep aside as I notice the last phase has been without much strength.

It’s obvious there has not only been fresh longs but, good amount of short covering too helped push the Pound. While traders and investors are still wary of BOE’s stance on wanting a weaker currency, in the absence of any substantial and comprehensive reasons, chances look dim their ambition would be fulfilled in the near future.

Probable Supports: 1.6339, 1.6254, 1.6086; Resistances: 1.6416, 1.6451

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

Enlightening Video

GBPUSD-081009

Hello friends,

Hope the week has been going well for all of you.

Pound has been trading in a tight range, trying to find direction from all the fronts; some call it consolidation. Today the whole market will be eagerly waiting for BOE’s announcement on Interest rate, undoubtedly it will have some impact on Pound. I would be much disappointed if they don’t increase the interest rate today because neither of their policies have so far helped improving their economic situation. They have less choice but to face the harsh realities for it would take years to mend their past mismanagement.

Technically speaking, Pound has been trading without much strength. While 1.58 has been giving good support till now, chances are better to test 1.56. Any relief rally upwards this week has little scope to last for long subject to the outcome of today’s proceedings at BOE and market is not much concerned about the interest rate but clarity from the BOE’s Chief on his stance towards weaker Pound.

Probable Supports: 1.5856, 1.5802, 1.5710; Resistances: 1.6071, 1.6125, 1.6181, 1.6246

Healthy And Wealthy Trading

GBPUSD-021009

Hello Friends,

Being the last trading day of the week I would say, this has not been a bad week for Pound, from the view point of Mr. King. The fall has been respectable and has every chance to move up, as some of the high end real estate investors would not miss this opportunity to buy pound unless Mr. King has more comprehensive plans to push her more downwards. Also it’s important to note, although Mr. King made an open statement he would not mind a weaker pound, he didn’t mention till date the level at which he would feel comfortable or in other words he would expect his investors to feel at ease to start investing in his currency that would help improving his economy.

It’s also noteworthy to mention, when the whole of UK is sinking fast, British are too busy working on setting up their Supreme Court. That’s the speciality of British, once the invincible. 

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

GBPUSD-280909

Hello friends,

Hope all of you had a pleasant weekend.

Although it’s visible the selling pressure seems to have eased to some extent on Pound, still the potential buyers are waiting on the sidelines, monitoring the situation in UK. The latest development in UK besides economic and monetary worries, political gimmicks have begun keeping the next year’s election, which can have tremendous impact on Pound.

Whatever they do, unless there is a total paradigm shift happens in UK, chances look extremely low in the near future there will be any credible positive developments in any of their efforts. Their passing the buck solely on the bonus issues of banking sector alone will not help in any way to ease or improve the situation. If they are dreaming of adopting a lame tactic of diverting the attention of the public, they must be prepared for yet another huge shock in the coming months.

Also, after having slept with an extra ordinary complacency for over an year, they start making statements over their deep concern on the safety of public tax that are spent to protect their weak banks, people will not buy it. They must look beyond their current problems and start working with entirely a different mind set.

As I had said earlier, let’s wait and see, it’s going to be a real fun.

Healthy And Wealthy Trading

GBPUSD-240909

Hello Friends,

Glad to meet you all, amidst Pound taking a soild hit against USD.

What I am amused about is, when a week ago BOE made it clear it does not like Pound remaining stronger, citing all possible reasons, market seems to have taken it lightly. But, when today Mr. King made it explicitly clearer, he would not mind a weaker pound in a subtle way, market is reacting as though this is the end of the Pound.

When all over the world, except notably of course US, Swiss & Japanese, all the central banks are desperate to have their currencies stronger, all these months BOE seemed to have been sleeping and suddenly they have awakened with an inexplicable realization that they are more concerned about their economy. I don’t recall anytime during the last few decades, British have ever been overtly concerned about their economy, thanks to their immensely enjoying the blessings from their big brother US. Now, US for the first time ever, perhaps after the 2^nd world war decided to do away with British and telling them to take care of themselves as the US have their own problems to take care.

It’s now too apparent, British have never had a credible economy, as they have been boasting to the world with their high handed attitude and now left on their own, they are finding it terribly difficult, rather impossible to mend their problems that have been stemming for several decades now.

Let’s wait and see, whether as they claim, the weaker Pound would help them restore their economy, if that’s the only solution as they feel.

Wish to quote Dr. Stephen Covey’s, “The significant problems we face cannot be solved at the same level of thinking we were at when we created them”. Hope someone conveys this to Mr. King and Mr. Brown.

Healthy And Wealthy Trading